Benchmark indices Sensex and Nifty snapped a four-day fall to end on a strong note today, supported by value buying and strength in metals, power and healthcare. However, elevated crude prices and geopolitical uncertainty kept sentiment measured. The 30-share BSE Sensex jumped 482.92 points, or 0.66 per cent, to 73,606.75. During the day, the benchmark hit a high of 73,606.75 and a low of 72,514.57, gyrating 1,092.18 points. Similarly, the 50-share NSE Nifty gained 153.20 points or 0.68 per cent to close at 22,753.20. Similarly, the broader market ended the session in the green. The BSE MidCap Select Index jumped 246.97 points, or 1.48 per cent, while the BSE SmallCap Select Index rose 120.73 points, or 1.45 per cent.
Among sectoral indices, Nifty Metal was the biggest gainer, up 2.21 per cent, followed by Nifty Pharma, up 1.76 per cent.
“Indian equities recovered from a weak opening and snapped a four-session losing streak, with the Nifty closing at 22,753. The rebound was triggered by buying near the recent support zone, a pullback in crude from last week’s high and strength in healthcare and select heavyweight stocks. However, the rise in volatility and the absence of confirmation from Bank Nifty suggest that the move was an initial stabilisation rather than a broad reversal. Pharma and healthcare led the recovery, supported by company-specific earnings and defensive demand in an uncertain macro environment. Select metal and banking stocks also rebounded from their intraday lows, while FMCG and IT stocks remained relatively subdued. The weaker participation from consumption stocks indicates that investors remain cautious about the effect of elevated energy costs on household demand and corporate margins,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm.
Rupee extends decline
The Indian rupee extended its decline for a third straight session, weighed down by softer Asian currencies and firmer domestic bond yields.
