The Sensex added 442.61 points, or 0.54%, to close at 82,200.34, while the NSE Nifty advanced 122.30 points, or 0.49%, to end at 25,090.70. The total market capitalisation of BSE-listed companies increased by Rs 62,703 crore to Rs 460.08 lakh crore.
Here’s how analysts read the market pulse:
Positive results from banking majors supported the market to rebound after many days of consolidation, said Vinod Nair, Head of Research, Geojit Investments.
“The market remains highly reactive to earnings, indicating that investors remain focused on the earnings front to aid valuation. The manufacturing segment gained today as the government is reviewing the scope of expanding the infrastructure spending to support growth,” said Nair.
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US markets
The S&P 500 and Nasdaq touched fresh record peaks on Monday, as investors hoped for trade breakthroughs and geared up for a week of tech earnings that could set the tone for Wall Street.
Investors were hoping for some progress in trade talks after U.S. Commerce Secretary Howard Lutnick on Sunday, who expressed confidence over striking a trade deal with the European Union.
However, EU diplomats said the 27-member bloc is exploring a broader set of possible counter-measures against the United States, as hopes for a breakthrough deal with Washington dwindled.
Trump has threatened to slap 30% tariffs on imports from Mexico and the EU, keeping markets on edge.
European Markets
European shares were flat on Monday as investors assessed a mixed bag of corporate earnings while awaiting a potential trade deal between the United States and the European Union.
The pan-European STOXX 600 index fell 0.16%, while Europe’s broad FTSEurofirst 300 index fell 4.24 points, or 0.20% Emerging market stocks rose 5.18 points, or 0.41%, to 1,254.56.
Tech View
The Nifty remained volatile during the day as traders awaited more clarity on the US-India deals, said Rupak De, Senior Technical Analyst at LKP Securities, adding that during the session, Nifty found support around the 50 EMA on the daily timeframe, leading to an intraday recovery and the RSI continued to show a bearish crossover on the daily chart, indicating weak momentum.
“Going forward, 24,900 remains a crucial support level for the index; a decisive fall below this level is likely to empower the bears. On the other hand, resistance is placed at 25,200–25,260,” said De.
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Most active stocks in terms of turnover
Reliance Industries Ltd (Rs 3,221 crore), HDFC Bank (Rs 2,224 crore), ICICI Bank (Rs 2,022 crore), Eternal (Rs 1,813 crore), Axis Bank (Rs 1,737 crore), Mastek Ltd (Rs 1,400 crore) and TCS (Rs 1,216 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 22.83 crore), YES Bank (Traded shares: 12.67 crore), JP Power (Traded shares: 12.56 crore), Eternal (Traded shares: 6.75 crore), Ola Electric Mobility (Traded shares: 4.49 crore), Suzlon Energy (Traded shares: 3.58 crore) and Tata Steel (Traded shares: 2.98 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Mastek Ltd, Eternal, Jyoti CNC Automation, Persistent System, Apar Industries, UPL and ACME Solar Holdings were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 161 stocks hit their 52 week highs today while 52 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were MRPL, Ceat, JP Power, Au Small Finance Bank, Newgen Software, Sterling and Wilson Renewable Energy and Sumitomo Chemical India.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,327 stocks that traded on the BSE on Monday, 2,264 stocks witnessed declines, 1,892 saw advances, while 171 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
