Indian benchmark indices recovered strongly on Monday, gaining more than 1 per cent after suffering heavy losses in the previous three sessions. The rebound was largely driven by bargain hunting in major banking and blue-chip stocks.
The BSE Sensex, comprising 30 stocks, surged 938.93 points (1.26%) to close at 75,502.85. During the trading session, the index touched an intraday high of 75,805.27 and a low of 73,949.76.
Similarly, the NSE Nifty 50 rose 257.70 points (1.11%), finishing the day at 23,408.80.
Among Sensex constituents, UltraTech Cement led the rally with a gain of over 4 per cent. Other notable gainers included Trent, HDFC Bank, Mahindra & Mahindra, Eternal, Bajaj Finance, ITC, Tata Steel, and State Bank of India.
On the other hand, a few stocks ended the session in negative territory. Bharat Electronics, Sun Pharma, Power Grid, and Bharti Airtel were among the key laggards.
Market experts said the late-session recovery was mainly fueled by investors picking up fundamentally strong stocks at attractive valuations following the recent sell-off.
According to Vinod Nair, Head of Research at Geojit Investments Limited, the rally was supported by buying interest in domestic-focused sectors such as automobiles, banking, and FMCG. He added that near-term market sentiment will likely depend on developments around the Strait of Hormuz, as any improvement in supply chain conditions there could further boost investor confidence.
In the broader Asian market landscape, Japan’s Nikkei 225 and China’s Shanghai SSE Composite ended the day in the red, while South Korea’s Kospi and Hong Kong’s Hang Seng posted gains. Meanwhile, most major European markets were trading lower.
In the commodities market, Brent crude oil, the global benchmark, climbed 1.41 per cent to $104.4 per barrel.
Data from exchanges showed that Foreign Institutional Investors (FIIs) sold equities worth ₹10,716.64 crore on Friday. In contrast, Domestic Institutional Investors (DIIs) purchased shares worth ₹9,977.42 crore.
In the previous session on Friday, the Sensex had dropped 1,470.50 points (1.93%) to close at 74,563.92, while the Nifty declined 488.05 points (2.06%) to settle at 23,151.10.
