MUMBAI: Indian benchmark indices closed higher on Monday after a choppy trading session, supported by gains in metal, pharmaceutical and healthcare stocks, while broader markets also staged a strong recovery from intra-day lows.
The Sensex rose 0.66 per cent, or 482 points, to settle at 73,606.75. The Nifty advanced 0.68 per cent to close at 22,753.20.
Commenting on Nifty technical outlook, experts said that the Nifty closed above its 20-day SMA and reclaimed the 200-week SMA, improving the immediate price structure.
"The PCR rose to 1.12, indicating better downside positioning, but India VIX at 17.12 shows that traders continue to expect wide market swings," analysts stated.
"Holding above 22,600 could extend the move toward 22,800–22,900, with a sustained close above 22,800 required to strengthen momentum," market watchers noted.
Among the top gainers on Nifty were Dr Reddy’s Laboratories, JSW Steel, BSE Limited and Adani Ports. In contrast, Shriram Finance, Tata Consumer Products, Bajaj Finance and HDFC Life Insurance closed among the major laggards.
Sector-wise, metal stocks outperformed the market, with the Nifty Metal index climbing 2.2 per cent. The Nifty Pharma index surged 1.67 per cent, while the Nifty Healthcare index also recorded healthy gains. On the downside, the Nifty Media and Consumer Durables indices ended as the worst-performing sectoral gauges.
The broader market mirrored the upbeat sentiment as investors returned to mid- and small-cap stocks after morning weakness. The Nifty Midcap 100 index gained 1.19 per cent, while the Nifty Smallcap 100 advanced 1.38 per cent by the close.
Among the 30-share Sensex pack, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel and Bharti Airtel emerged as the top performers. Meanwhile, Bajaj Finance, HDFC Bank, Maruti Suzuki, HCL Technologies and Power Grid Corporation weighed on the index.
Experts said that despite intermittent volatility throughout the session, strength in metal and healthcare-related counters helped benchmark indices finish firmly in positive territory, while gains across the broader market reflected improved investor sentiment.