Stock benchmarks recovered from early morning losses on Monday as strong performance in metal stocks helped offset weakness in technology stocks in afternoon trading. The 30-share BSE Sensex traded at 77,654.64, up 74.33 points or 0.10 percent from its previous close, while the broader NSE Nifty50 gained 26.60 points or 0.11 percent and around At 12:30 it reached 23,559.30.
Metal stocks emerged as the top gainers, with Hindalco Industries leading the way with a rise of 5.16 percent, followed by Tata Steel which rose 3.34 percent. Two-wheeler manufacturer Hero MotoCorp continued its strong performance and rose 3.76 percent. Coal India and Adani Ports added to the positive momentum, gaining 1.84 percent and 1.72 percent respectively.
Technology stocks faced selling pressure with IT giants Wipro, TCS and Infosys down 2.99 per cent, 2.72 per cent and 2.50 per cent respectively. Healthcare giant Dr. Reddy’s fell 1.91 percent, while retailer Trent fell 1.79 percent.
The market breadth remained negative with 2,317 shares falling compared to 1,660 advances on the BSE. Circuit filters were activated for 744 stocks, with 416 reaching the lower circuit limits and 328 reaching the upper circuit limits. During the session, 150 stocks hit their 52-week highs, while 172 hit their 52-week lows.
The broader market indices showed mixed performance with the Nifty Next 50 outperforming the benchmark, rising 0.84 per cent to 67,976.30. The Nifty Midcap Select index was slightly higher, up 0.13 percent at 12,115.45.
The financial sectors showed resilience with the Nifty Bank index rising 0.51 percent to 50,434.00, while the Nifty Financial Services index rose 0.58 percent to 23,333.75.
The market recovery comes after six consecutive sessions of losses, although trading remains volatile amid mixed global signals and continued concerns about delayed US rate cuts. The move in afternoon trading will be crucial in determining whether the benchmarks can maintain their gains and break the recent losing streak.
