Indian equity benchmarks ended modestly higher on Monday, supported by positive sentiment from state election trends and continued optimism around corporate earnings, though gains were limited by a weakening rupee and investor caution.
The BSE Sensex rose 355.90 points, or 0.46%, to close at 77,269.40, while the Nifty 50 advanced 121.75 points, or 0.51%, to settle at 24,119.30. Markets had climbed nearly 1% in early trade on favourable election trends, but later pared gains amid profit booking.
Buying remained largely broad-based, led by heavyweight stocks. Adani Ports gained 5.30%, while Hindustan Unilever rose 2.60%. Reliance Industries, Larsen & Toubro and Maruti Suzuki also posted gains exceeding 2%. Bajaj Finserv and Bajaj Finance recorded firm advances.
Losses in select heavyweights capped the rally. Bharti Airtel declined 3.14%, Kotak Mahindra Bank fell 2.82%, while TCS, ITC and Infosys also ended lower, weighing on the indices.
Sectoral performance was mixed. Realty stocks outperformed, with the Nifty Realty index rising 2.41%. Metal, pharma and financial services sectors also saw gains. In contrast, IT stocks remained under pressure, with the Nifty IT index slipping 0.95%. Media and PSU bank indices also ended lower.
Broader markets outperformed the benchmarks, indicating sustained risk appetite. The Nifty Midcap 100 rose 0.63%, while the Nifty Smallcap 100 gained 0.70%. India VIX eased 0.86% to 18.30.
The rupee’s weakness remained a key factor limiting gains, raising concerns over imported inflation and foreign capital flows.
Analysts said market direction would depend on global developments and macroeconomic trends, even as domestic factors remain supportive.
Disclaimer: The views, opinions, recommendations and suggestions expressed by experts or brokerages are their own and do not necessarily reflect those of VisionMP. Investors are advised to consult a qualified financial adviser before making any investment decisions.
#StockMarket #IndianMarkets #BusinessNews
