Broad-Based Rally Lifts Sensex to 73,606, Nifty to 22,675
A broad-based rally helped Indian benchmark indices recover on Monday, ending a four-session slide. The Sensex advanced 482.92 points, or 0.66 percent, to close at 73,606.75. The Nifty rose 153.20 points, or 0.68 percent, to finish at 22,675.
The session also boosted overall market value. Market capitalisation of all BSE-listed companies increased by close to ₹5 lakh crore, climbing to around ₹456 lakh crore from about ₹451 lakh crore on Friday.
Mid-cap and small-cap stocks joined the advance. The Nifty Smallcap 100 index jumped 245.55 points, or 1.38 percent, to 17,985.00, and the Nifty Midcap 100 index gained 664.75 points, or 1.19 percent, to 56,465.40.
Nifty Metal topped the sectoral charts with a rise of 2.21 percent. Nifty Healthcare and Nifty Pharma followed with gains of 1.77 percent and 1.76 percent. Several other indices, including Commodities, Energy, Oil and Gas, Infrastructure, India Defence, PSE, Manufacturing and IT, also moved higher. Nifty Media and Nifty Consumer Durables were the exceptions, closing down 0.34 percent and 0.21 percent.
Among Sensex constituents, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel, Bharti Airtel, IndiGo, ITC, Bajaj Finserv, UltraTech Cement, BEL, Infosys, Axis Bank, L&T, Asian Paints, NTPC, Titan, ICICI Bank, Tech Mahindra, TCS, SBI and M&M led the gains. Bajaj Finance, HDFC Bank, Maruti Suzuki, HCL Tech and Power Grid lagged behind, while HUL and Sun Pharma finished flat.
Analysts described the session as a recovery supported by value buying and strength in metal, power and healthcare shares. Elevated crude oil prices, geopolitical concerns and caution ahead of monetary policy decisions by the Fed, the ECB and the Bank of Japan, however, kept the overall tone measured.
Market participants said investors remained choosy after last week's steep fall, focusing on companies with clear profit paths and sensible valuations. Initial quarterly numbers point to higher commodity-linked earnings in power generation, metals and refining. Yet higher energy costs and interest rates may restrain broader corporate growth in the quarters ahead.