Indian equity benchmarks recovered from their morning lows on Monday, as buying in pharmaceutical, healthcare and metal stocks supported the broader market. The recovery followed a weak start, with investors tracking global cues, crude oil prices, West Asia tensions and the September-quarter earnings season.
The BSE Sensex closed just above 73,600, rallying close to 500 points, while the NSE Nifty 50 settled over 22,750, soaring more than 150 points.
Pharma, Healthcare Stocks Lead Sectoral Recovery
Pharmaceutical and healthcare stocks were among the strongest performers during the session, with the Nifty Pharma and Nifty Healthcare indices rising more than 1% each in afternoon trade. The Nifty Metal index also advanced.
In contrast, the Nifty PSU Bank and Nifty FMCG indices faced the steepest pressure. The sectoral performance reflected a mixed session, with gains in select pockets offsetting weakness elsewhere.
Among Nifty 50 constituents, Dr Reddy’s Laboratories, BSE, Kotak Mahindra Bank, JSW Steel and Adani Ports were among the leading gainers in afternoon trade. Shriram Finance, Tata Consumer Products, HDFC Life Insurance, Asian Paints and Bajaj Finance were among the laggards.
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Broader Markets Recover From Morning Lows
The broader market also moved into positive territory after coming under pressure in early trade. At 2:10 PM, the Nifty Midcap 100 was up 0.38%, while the Nifty Smallcap 100 gained 0.54%.
At the start of the session, both indices had fallen sharply, with the Nifty Midcap 100 down 0.81% and the Nifty Smallcap index lower by 0.91%. The subsequent recovery indicated improved buying interest in mid- and small-cap stocks.
Crude Oil, West Asia Tensions Remain Key Risks
Oil prices and developments in West Asia remained important factors for domestic equities. Although crude benchmarks declined on Monday, elevated prices continue to pose risks for India, which relies heavily on imports to meet its energy requirements.
Sustained high oil prices can increase the import bill, add to inflationary pressures, weigh on the rupee and raise input costs for businesses. Airlines, paints, chemicals, logistics and other energy-intensive companies remain sensitive to changes in crude prices.
Q2 Earnings And Fed Meeting In Focus
The September-quarter earnings season continued to drive stock-specific activity, with Tata Consumer Products, ITC Hotels, Paytm, Aavas Financiers, Aegis Logistics, Ather Energy, Mankind Pharma, REC and Sona BLW Precision Forgings among the companies scheduled to report results on Monday.
Investors are also watching the US Federal Reserve’s policy meeting scheduled for October 27–28. The decision and accompanying commentary could influence global bond yields, the dollar and foreign investment flows into emerging markets.
India’s September industrial production data, due on October 28, will provide further insight into domestic manufacturing and industrial activity. Jio Platforms is also scheduled to list on the same day, making the debut a key event on the week’s primary-market calendar.
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Institutional Flows And Volatility In Focus
Foreign institutional investors were net buyers of Indian equities worth ₹887.65 crore in the previous session, while domestic institutional investors recorded net purchases of ₹3,235.36 crore. However, foreign portfolio investors had withdrawn ₹48,056 crore from Indian equities so far in October, according to the data provided.
The India VIX rose 6.98% to 16.86 in the previous session, pointing to higher expected volatility. The index reflects the market’s expectations of volatility rather than its direction.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
