Indian benchmark indices (Sensex & Nifty) recovered from early losses to close in the green on Monday, marking a positive start to the week. Gains were driven by strong buying in realty, PSU banking, and pharma stocks, even as markets witnessed volatility through the session.
At the close, the Sensex rose 39.78 points (0.05%) to settle at 83,978.49, while the Nifty 50 gained 41.25 points (0.16%) to finish at 25,763.35. Market breadth remained positive, with 2,144 stocks advancing, 1,896 declining, and 205 remaining unchanged.
The broader markets outperformed, as both the Nifty Midcap and Smallcap indices climbed 0.7% each, showing resilience amid sectoral churn. The India VIX, a measure of market volatility, rose 4%, reflecting active stock-specific moves as investors tracked ongoing Q2 corporate earnings.
Among sectors, the Nifty PSU Bank index extended its winning streak, advancing nearly 7% for the week. Sentiment in state-owned banks remained upbeat amid expectations of stronger balance sheets and reports of possible revisions in FII investment limits. SBI, the index heavyweight, is scheduled to announce its Q2 results on Tuesday, with investors anticipating steady asset quality and robust loan growth.
Realty and pharma stocks also gained momentum, while FMCG, consumer durables, and IT shares faced mild pressure.
In the primary market, Lenskart’s initial public offering (IPO) witnessed a strong debut, getting fully subscribed on the opening day. The issue attracted significant participation from both institutional and retail investors, indicating strong appetite in the IPO market.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
