BIZ DESK
— Benchmark domestic equity indices closed marginally higher on Monday, supported by strong performance in the auto and consumer discretionary sectors, even as technology and IT stocks weighed on overall gains.
The BSE Sensex added 77 points, or 0.09%, to close at 80,787, while the Nifty 50 gained 32 points, or 0.13%, to settle at 24,773, marking a cautious yet positive start to the week.
Broader Markets Stay Resilient
The broader markets mirrored the main indices’ upward momentum. At the Bombay Stock Exchange:
- Mid-Cap Index rose by 0.3%
- Small-Cap Index also advanced 0.3%
This indicates sustained investor interest in mid- and small-cap stocks despite global uncertainties and valuation concerns.
Sector-Wise Highlights:
Out of 21 sectoral indices on the BSE, 15 sectors closed in the green, reflecting broad-based buying interest.
Top Gaining Sectors
- Auto: The standout performer of the day, the Auto index surged 3.1%, powered by strong buying in frontline auto stocks amid improving demand trends and upbeat monthly sales data.
- Consumer Discretionary: Gained 1.1%, driven by recovery hopes in urban consumption.
- Services: Added 0.8%, reflecting strength in domestic demand-linked businesses.
Sectoral Laggards
- Focused IT: Fell 0.9%, as investors booked profits after recent gains.
- IT: Declined 0.8%, pressured by weak global cues and concerns over U.S. tech demand.
- Consumer Durables & TECK: Both dipped 0.7%, amid subdued sentiment and sector-specific headwinds.
Top Stock Movers on Sensex
Top Gainers
- Tata Motors: Jumped nearly 4%, buoyed by expectations of robust EV sales and margin expansion.
- Mahindra & Mahindra: Rose almost 4%, following strong rural demand projections and new product announcements.
- Maruti Suzuki: Advanced over 2.3%, on improving production numbers and easing supply chain pressures.
Top Laggards
- Trent Ltd: Was the biggest loser, slipping 3.8%, amid profit-taking after a sharp rally last week.
- Asian Paints: Dropped 1.9%, reacting to concerns over input cost pressures.
- HCL Technologies: Declined 1.2%, tracking weakness in the broader IT space.
Market Outlook
Analysts noted that while the market ended flat, the underlying tone remains constructive. The rally in auto and consumption-linked sectors suggests optimism around domestic growth prospects, even as global cues remain mixed.
“Markets are likely to consolidate in the near term, but stock-specific action will remain driven by sectoral trends, FII flows, and macroeconomic data,” said a Mumbai-based equity strategist.
Investors will now look ahead to key economic data releases, inflation figures, and global central bank commentary for further direction.