Share Market Today: Indices End In Green, Sensex Closes About 500 Points Higher, Nifty Over 23,750

Traders noted that bargain hunting in blue chip stocks such as Reliance, HDFC Bank, and ITC also helped boost the optimism in the equity markets

The stock market on Monday clocked a sharp recovery following tumultuous trading seen in the last week. The BSE Sensex settled for the day at 78,540.17, climbing close to 500 points, while the NSE Nifty50 closed the session at 23,753.45, gaining more than 150 points.

This recovery came amidst value buying seen at lower levels and a supportive trend seen in the global markets. Further, traders noted that bargain hunting in blue chip stocks such as Reliance, HDFC Bank, and ITC also helped boost the optimism in the equity markets.

On the 30-share Sensex platform, ITC, Tech M, HDFC Bank, IndusInd Bank, and Reliance emerged among the gainers for the day. On the other hand, the major laggards for the session included Zomato, Maruti Suzuki, Nestle, HCL Tech, and Bajaj Finserv.

Vinod Nair, Head of Research, Geojit Financial Services, said, “The Indian market demonstrated optimism following the recent sell-off. The lower-than-expected US PCE print bolstered investor sentiment in interest rate-sensitive sectors. Broad-based buying was observed, with the metals sector notably benefiting from the anticipated increase in steel import taxes.Despite the positive market sentiment, the short-term outlook is expected to remain sideways due to a lack of new catalysts and the impact of the festive season and holidays.”

The broader markets also closed the session in majorly in green. The Nifty 100 index dominated the gains and climbed 0.62 per cent in the day. Meanwhile, the Nifty Microcap 250 index slipped 0.89 per cent by the end of the session. 

Sector-wise, the Nifty Media, Auto, Midsmall Healthcare, and Healthcare Index indices remained the only laggards. On the other hand, the Nifty Realty index rallied 1.47 per cent.

Foreign institutional investors (FIIs) dumped Indian equities worth Rs 3,597.82 crore on Friday, according to exchange data. The global oil benchmark Brent crude climbed 0.44 per cent to touch $73.26 a barrel.

Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher, noted, "Investors are now focusing on the Reserve Bank of India’s forthcoming monetary policy and the Union Budget 2025, anticipating policy measures that could further support economic growth and market stability. Over the next few days, trading volumes are expected to be thin due to this being a holiday-shortened week."