Markets roar back: Rs 5 lakh cr added as Sensex, Nifty snap 4-day losing streak to end at day's high

Mumbai (The Uttam Hindu): Indian stock markets made a strong comeback on Monday after four consecutive sessions of decline. The Sensex closed 482.92 points, or 0.66 percent, higher at 73,606.75, and the Nifty gained 153.20 points, or 0.68 percent, to close at 22,675.

With this surge, the market cap of all companies listed on the Bombay Stock Exchange (BSE) increased by nearly Rs 5 lakh crore to Rs 456 lakh crore, from around Rs 451 lakh crore on Friday. The market witnessed a broad-based rally. Nifty Smallcap 100 index gained 245.55 points or 1.38 per cent to close at 17,985.00 and Nifty Midcap 100 index gained 664.75 points or 1.19 per cent to close at 56,465.40. Among the indices, Nifty Metal (2.21 per cent), Nifty Healthcare (1.77 per cent) and Nifty Pharma (1.76 per cent) were the top gainers. Besides, Nifty Commodities (1.60 per cent), Nifty Energy (1.46 per cent), Nifty Oil & Gas (1.35 per cent), Nifty Infra (1.25 per cent), Nifty India Defence (1.18 per cent), Nifty PSE (1.12 per cent), Nifty India Manufacturing (1.03 per cent) and Nifty IT (0.87 per cent) were the top gainers.

Only Nifty Media (0.34 per cent) and Nifty Consumer Durables (0.21 per cent) closed with losses. In the Sensex pack, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel, Bharti Airtel, IndiGo, ITC, Bajaj Finserv, UltraTech Cement, BEL, Infosys, Axis Bank, L&T, Asian Paints, NTPC, Titan, ITCCI Bank, Tech Mahindra, TCS, SBI and M&M were the gainers. On the other hand, Bajaj Finance, HDFC Bank, Maruti Suzuki, HCL Tech and Power Grid were the losers. HUL and Sun Pharma closed flat.

Indian stock markets saw a recovery in today's session, driven by value buying and strength in the metals, power, and healthcare sectors, experts said. However, higher crude oil prices, geopolitical uncertainty, and caution ahead of policy decisions from the Federal Reserve, the ECB, and the Bank of Japan kept the market sentiment balanced.

He further added that mid-cap and small-cap stocks also saw some improvement after last week's sharp decline, although investors remained selective and preferred profit clarity and better valuations. Initial quarterly results indicate commodity-led profit growth in the power generation, metals, and refining sectors, but higher energy costs and interest rates are expected to dampen overall growth for companies in the coming quarters.