Indian stock markets closed with modest gains on Monday, with the benchmark indices touching new all-time highs before retreating slightly. The BSE Sensex ended 194.07 points or 0.24 per cent higher at 82,559.84, while the Nifty 50 rose by 42.80 points or 0.17 per cent to close at 25,278.70. The session was characterized by volatility, as the indices saw profit booking at higher levels, but still managed to hold on to their gains.
“Markets closed flat for the day, with the Nifty 50 up by 42.80 points or 0.17 per cent at 25,278.70, and the Sensex rising by 194.07 points or 0.24 per cent to 82,559.84,” noted Vikram Kasat, Head of Advisory at PL Capital - Prabhudas Lilladher. He added, “The top-performing sectors for the day were banking, FMCG, and financial services, while the sectors that fell the most were auto, pharma, and media.”
Among the top gainers on the NSE were Bajaj Finserv, up 3.31 per cent, Bajaj Finance, which rose 3.05 per cent, HCL Tech, up 2.67 per cent, Hero Motocorp, which increased by 2.19 per cent, and SBI Life, gaining 2.01 per cent. On the other hand, Hindalco was the top loser, down 2.55 per cent, followed by Dr Reddy’s, which fell 2.32 per cent, Tata Motors down 1.65 per cent, NTPC declining 1.45 per cent and ONGC dropping 1.35 per cent.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented, “Today, the benchmark indices registered a fresh all-time high of 25,333.65 for the Nifty and 82,725.28 for the Sensex. Among sectors, the FMCG index rallied 0.88 per cent, whereas the Metal index shed over 1 per cent.” He added that the short-term market sentiment remains positive as long as it trades above the support levels of 25,200 for the Nifty and 82,350 for the Sensex.
The broader market performance was mixed, with midcap and small-cap indices closing in the red. According to Avdhut Bagkar, Technical and Derivatives Analyst at StoxBox, “The broader market saw midcap and small-cap indices closing in the red. Sector-wise, six out of thirteen sectors ended in positive territory, with FMCG leading the gains, while Metals experienced the most significant losses.”
Ajit Mishra, SVP of Research at Religare Broking Ltd, observed that “Markets began the week on a positive note and registered modest gains during a subdued trading session. After an initial uptick, the Nifty fluctuated within a narrow range before closing at 25,278.70. Sectoral trends were mixed, keeping traders engaged, with FMCG and financials outperforming, while metals and pharma ended in negative territory.”
In terms of market breadth, out of the 4,187 stocks traded on the BSE, 1,782 advanced, 2,256 declined, and 149 remained unchanged. Additionally, 332 stocks reached their 52-week highs, while 34 stocks touched their 52-week lows.
Looking ahead, analysts suggest that the market momentum will be influenced by key economic data releases expected this week. The ongoing underperformance of certain sectors like banking and metals, contrasted with gains in FMCG and financials, reflects a complex market landscape that could keep traders on their toes in the coming days.