Equity markets showed a positive trend on Monday, bouncing back from last week’s steep decline. The BSE Sensex and NSE Nifty both saw gains, with the Sensex rising by 396.31 points and the Nifty by 136.60 points. This recovery comes after the Nifty experienced a significant drop last week, with foreign institutional investors pulling out sizeable funds.
In terms of individual stocks, retail giant Trent emerged as the top gainer on the NSE, followed by JSW Steel and ITC. On the flip side, IT major TCS led the losses. The broader market indicators also showed a steady performance, with the banking sector displaying strength.
Technical indicators provided mixed signals, with a higher number of stocks hitting 52-week highs than lows. The global market received positive cues with US inflation cooling to 2.4 per cent. However, analysts remain cautious due to recent market volatility.
Overall, the market continues to show resilience, with support levels identified for the Nifty. The banking sector and broader market indices are also showing positive signs. It will be interesting to see how the market continues to evolve in the coming days.
