Mumbai, India, October 26 (ANI) — Indian equity markets ended higher Monday, with the Sensex surging more than 480 points and the Nifty settling above the 22,750 mark. The rally was supported by selective buying in metals, pharmaceuticals and health care stocks rather than a decisive improvement in overall market sentiment.
The Sensex closed at 73,606.75, up 482.92 points, or 0.66%, from its previous close of 73,123.83. The Nifty settled at 22,753.20, gaining 153.20 points, or 0.68%, from its previous close of 22,600.
All broad-market indices ended in positive territory. Among sectors, most indices closed higher, with health care, metals and pharmaceuticals emerging as the top gainers, each rising more than 1%. Meanwhile, fast-moving consumer goods (FMCG), media, consumer durables and chemicals ended in negative territory.
On the BSE, Eternal, Adani Ports, Kotak Mahindra Bank, Trent, ITC, IndiGo, Bharti Airtel, Tata Steel, Reliance Industries, Bharat Electronics Ltd. (BEL), Mahindra & Mahindra, NTPC, Axis Bank, Larsen & Toubro, ICICI Bank and Tech Mahindra were among the top gainers. Bajaj Finance, HDFC Bank, Sun Pharma, HCL Technologies, Power Grid and Maruti Suzuki were among the biggest drags.
On the NSE, Dr. Reddy’s Laboratories, JSW Steel, BSE Ltd., Max Healthcare, Adani Ports, Eternal, Kotak Mahindra Bank, Hindalco, Coal India, Grasim Industries, Reliance Industries, Bharti Airtel, IndiGo, Trent, Tata Steel, Infosys, ICICI Bank, Tech Mahindra and NTPC were among the top gainers. Shriram Finance, Bajaj Finance, HDFC Life, Sun Pharma, HCL Technologies, TMPV, Mahindra & Mahindra and Power Grid were among the top losers.
At the time of reporting, Brent crude was trading at around $114.65 per barrel, while crude oil was trading at approximately $101.07 per barrel.
Vikram Kasat, chief business officer for advisory and dealing at PL Capital, said, “Elevated crude oil prices, with Brent around $115 per barrel, and the rupee weakening to Rs. 95.19 against the U.S. dollar continue to pose risks to inflation, corporate margins and foreign investor flows.”
“While gold and silver remain important indicators of global risk appetite, investors must also monitor currency movements and energy-price volatility,” Kasat said, adding, “Going forward, the sustainability of the rebound will depend on quarterly earnings, developments in West Asia and the U.S. Federal Reserve’s policy outlook. Investors should remain selective, prioritizing companies with strong earnings visibility, resilient balance sheets and reasonable valuations.”
Market analyst Vipin Dixena said, “Today’s rebound is encouraging, but it is too early to conclude that the market has established a durable bottom.”
“From a fundamental perspective, the correction is gradually creating opportunities, but investors should distinguish between stocks that have become cheaper and businesses that are genuinely undervalued. The ongoing quarterly earnings season will be crucial in determining whether current stock prices adequately reflect these risks,” he said.
“Nifty’s ability to sustain above 22,600–22,700 will be important for confirming further recovery. Immediate resistance lies around 22,700–22,800, while 22,400–22,300 is an important support zone to monitor. A sustained move above resistance could improve short-term sentiment, whereas a breakdown below support could bring renewed selling pressure. These levels should be treated as reference zones rather than guaranteed turning points,” Dixena said. (ANI)
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