Stock Market Today: Indian equity benchmarks swung between gains and losses on Monday as volatility persisted, with investors assessing global cues after Friday’s end to the market’s longest weekly losing streak in 25 years.
The BSE Sensex and NSE Nifty 50 opened higher, slipped into negative territory and subsequently recovered to trade in the green. At 9:31 am, the Sensex was up 47.86 points, or 0.07 per cent, at 72,520.19, while the Nifty 50 gained 39.20 points, or 0.17 per cent, to 22,559.65.
Broader markets outperformed the benchmark indices in early trade. The Nifty Midcap 100 rose nearly 0.40 per cent, while the Nifty Smallcap 100 advanced 1.25 per cent. The Nifty Microcap 250 gained 1 per cent. Auto stocks led the gains in the morning session.
Among Nifty 50 constituents, Bajaj Auto surged over 3 per cent, leading the gainers. Dr Reddy’s Laboratories, Mahindra & Mahindra, Eicher Motors, Bharat Electronics, BSE and JSW Steel advanced 1-2 per cent each.
On the losing side, Tech Mahindra, Bharti Airtel, ITC, State Bank of India and NTPC fell 1-3 per cent each.
Among sectoral indices, Nifty Media led the gains, rising nearly 3 per cent, followed by Nifty Auto, which climbed 1.30 per cent. Nifty Realty, Nifty Chemicals and Nifty Metal also traded higher.
In contrast, Nifty Bank fell 0.50 per cent, slipping below the 55,000 mark. Nifty PSU Bank, Nifty Private Bank and Nifty Financial Services also traded in the red. Nifty IT and Nifty FMCG were among the other sectoral laggards.
Market breadth favoured the bulls. Of the 3,355 stocks traded, 2,129 advanced, 1,108 declined and 118 remained unchanged.
This is a developing story...
