Indian equity markets staged a strong recovery on Monday, supported by softer-than-expected US jobs data and a moderation in crude oil prices, offering some relief to investors assessing the near-term interest rate outlook.
The Nifty 50 ended the session at 22,555.75, gaining 133.80 points, or 0.60%. The Sensex rose 472.77 points, or 0.66%, to settle at 72,382.47.
Broader markets also staged a recovery, with the Nifty Smallcap 100 rising 0.47% and the Nifty Midcap 100 gaining 0.67%.
Among sectoral indices, the Nifty FMCG and Nifty Consumer Durables indices led the gains, rising around 2% each. In contrast, the Nifty Healthcare and Nifty Pharma indices declined nearly 1% each.
Market breadth, however, remained negative, with 1,846 stocks advancing on the NSE against 1,745 declines, while 115 stocks remained unchanged.
Here are today’s top gainers on the Nifty
Here are today’s top gainers on the Sensex
Here are today’s top losers on the Nifty
Here are today’s top losers on the Sensex
Technically, the Nifty tested its broken weekly 200-SMA zone at 22,580–22,600 but closed below it. A sustained move above this band could extend the recovery toward 22,800, while rejection would keep 22,400 as the immediate support, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
The rebound can extend if the Nifty closes above 22,600 with broader participation and Bank Nifty crosses 55,175. Failure to clear these levels, especially alongside renewed strength in crude or a hawkish RBI outcome, Radhakrishnan believes, could bring selling pressure back into the market.
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