The Indian equity markets staged a notable recovery today, reversing early session losses to conclude the trading day on a positive note. The benchmark indices, BSE Sensex and NSE Nifty, showed resilience amidst volatile trading conditions, buoyed by select sectors and specific stock movements.
The NSE Nifty ended the day at 23,538, marking a gain of 37 points from its previous close. The index managed to hold above the crucial 23,500 level throughout the session.
The BSE Sensex rose by 131 points to settle at 77,341, showcasing a recovery after a subdued start to the day.
Mahindra & Mahindra led the gainers on the Nifty, supported by Power Grid Corporation of India and Sun Pharmaceutical Industries. Conversely, IndusInd Bank and Tata Steel were among the prominent losers on the index.
M&M emerged as the top gainer on the Nifty with a 3% increase, rebounding from recent losses. Meanwhile, Cipla faced selling pressure, closing 2% lower due to concerns over observations from the US FDA at its Goa unit.
Realty stocks, buoyed by sustained demand, saw positive movements, with Godrej Properties recording a 3% climb.
Hindustan Aeronautics Ltd (HAL) gained 3% on expectations of its imminent exit from the F&O ban list, while Garden Reach Shipbuilders surged 6% following a new order win announcement.
ICICI Bank, HDFC Bank, and Mahindra & Mahindra played pivotal roles in lifting the indices, countering the drag exerted by heavyweight stocks like Reliance Industries Ltd and IndusInd Bank.
Today's trading session reflected a mix of sector-specific optimism and cautious sentiment, with investors closely monitoring both domestic developments and global cues.
Analysts anticipate continued volatility amid evolving economic indicators and corporate earnings announcements in the coming days.
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