The domestic key equity indices settled the session on a positive note. The NSE Nifty 50 rose 112 points or 0.50% to settle at 22,509, while the BSE Sensex jumped 341 points or 0.46% to finish at 74,170.
Nifty Pharma was the top gainer among the sectoral indices, rising 1.56% in Monday’s trade. It was followed by Nifty Financial Services, gaining more than 1.03% to close at 23,529.25.
The Nifty Bank surged 294 points or 0.61% to close at 48,354.15. The BSE Midcap jumped 337 points or 0.70% to close at 48,462.
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In the broader markets, small- and micro-cap stocks closed the day on a positive note. The volatility index India VIX shot up 1.01% to the 13.42 level.
This is a developing story, more details are being added. Please watch the space for updates.
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The market breadth remained in favour of bears. Dr Reddy’s Lab (3.93%) was the top gainer in the Nifty 50, followed by SBI Life Insurance (3.89%), Bajaj Finserv (3.74%), Trent (2.54%), and Axis Bank (2.36%). Meanwhile, Wipro, BPCL, Hero MotoCorp, ITC, and Nestle India were the major losers in the Nifty 50.
“The national market experienced a positive trading session, driven by strong performance in the healthcare and financial sectors. However, lower participation from domestic investors due to tariff-related uncertainties may cause the market to fluctuate within a range in the near term. A decisive momentum will depend on signs of earnings growth while improving domestic economic indicators suggest a potential recovery,” said Vinod Nair, Head of Research at Geojit Financial Services.
“Despite a small hiccup, markets quickly gained ground to trade in positive territory as optimism across global markets aided recovery in local indices. However, with a lot of uncertainty surrounding the impact of US tariff policies on key economies, including India, investors would be watchful of the global events before taking any call,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
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