BIZ DESK
Domestic equity benchmarks recovered from intraday lows on Monday but ended marginally lower, as mixed sectoral trends and lingering global and domestic uncertainties capped gains.
After slipping sharply during the session, the Sensex pared losses to close down 54.30 points, or 0.06 per cent, at 85,213.36, having fallen as much as 438 points intraday. The Nifty 50 also recovered from a day’s low of 142 points to settle 19.65 points, or 0.08 per cent, lower at 26,027.30.
Market sentiment is being supported by expectations of an earnings recovery in the second half of FY26, aided by monetary and fiscal growth drivers. Analysts believe future market momentum will be driven more by earnings visibility than valuation expansion. Investors are also closely tracking upcoming US macro data, including CPI inflation and unemployment figures, which could influence global liquidity conditions and interest rate expectations for 2026.
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the market’s rebound from key support levels signals underlying strength and suggests that the broader uptrend may remain intact in the near term. Vinod Nair, Head of Research at Geojit Investments, noted that persistent foreign fund outflows and a weak rupee continue to keep indices range-bound. He added that currency volatility may persist until there is greater clarity on the India–US trade agreement.
Sector-wise performance
Sectoral trends were mixed. Media stocks outperformed, rising nearly 2 per cent. FMCG, consumer durables, chemicals, PSU banks, IT and metals posted modest gains. In contrast, auto stocks declined the most, while pharma and healthcare indices also ended lower. The capital markets index underperformed, falling 1.35 per cent.
Broader market and indices
The Bank Nifty recovered steadily after early weakness, reflecting buying interest at lower levels. The midcap index closed in the red, though technical indicators showed accumulation near support zones. The smallcap index displayed relative resilience, though it extended its corrective phase for a third consecutive session.
Top movers
Among Nifty 50 stocks, InterGlobe Aviation, Trent, Hindustan Unilever, HCL Technologies and Wipro were the top gainers. Mahindra & Mahindra, Eicher Motors, ONGC, Bajaj Auto and JSW Steel were the major laggards.
Market breadth on the BSE remained broadly balanced, with 2,237 stocks advancing and 2,029 declining out of 4,444 traded. While 127 stocks hit 52-week highs, 145 touched fresh lows, indicating selective participation.
In the midcap space, Dixon Technologies, UPL, KEI Industries, Supreme Industries and IRB Infrastructure declined 2–3 per cent, while BSE Ltd, Aditya Birla Capital, Vodafone Idea, HDFC AMC and KPIT Technologies also slipped. Among smallcaps, NBCC, Aarti Industries, Aditya Birla Real Estate and Neuland Laboratories rose 3–5.5 per cent, while select counters such as Cholamandalam Financial Holdings and Tejas Networks saw declines.
On the BSE, stocks like Refex Industries, Shakti Pumps and Praj Industries surged sharply, while Embassy Developments, PTC Industries and SpiceJet ended lower, reflecting a cautious but steady underlying market tone.