2 hrs ago
Sensex Ends Four-Day Slide as Global Equities Advance
Indian shares went up on Monday after falling for four days.
The Sensex and Nifty both finished higher.
Stocks around the world also rose, helping investors feel more confident.
Consumer goods companies did especially well, while healthcare and pharmaceutical stocks lagged.
Analysts said the Nifty may rise further if it moves above an important range.
They also warned that prices could fall again if it cannot break through.
Investors were cautious before the Reserve Bank of India’s policy decision on Wednesday.
The rupee was trading near 96.30.
The Sensex rose 472.77 points, or 0.66%, to 72,382.47 on Monday, snapping a four-day losing streak.
The Nifty gained 133.80 points, or 0.6%, to close at 22,555.75.
Analysts said a sustained Nifty move above 22,580–22,600 could support further recovery, while 22,400 is immediate support.
ITC, BSE and Tata Motors Passenger Vehicles were among the leading gainers; consumer durables and FMCG outperformed.
The rupee traded near 96.30 as investors awaited the RBI policy decision on Wednesday.
- Who
- Indian stock market investors and benchmark indices Sensex and Nifty.
- What
- The indices rose, ending the Sensex's four-day losing streak.
- Where
- Mumbai, India.
- When
- Monday; investors were also looking ahead to the RBI decision on Wednesday.
- Why
- Global equities advanced and investor risk appetite improved amid expectations that the US Federal Reserve may not need faster interest rate hikes.
Recovery outlook
Risks and caution
Potential for further gains
Recovery outlook
Analysts said a sustained close above 22,600, broader participation and a Bank Nifty move above 55,175 could extend the rebound toward 22,800.
Risks and caution
If the Nifty is rejected near 22,580–22,600, 22,400 remains immediate support and selling pressure could return.
Investor approach
Recovery outlook
The market rebound may continue, supported by gains in global equities and improved risk appetite.
Risks and caution
Market watchers cautioned that risk-off sentiment could prompt profit-taking; analysts advised selective buying on declines rather than chasing the rally.
Key facts
- Sensex close
- 72,382.47, up 472.77 points (0.66%).
- Nifty close
- 22,555.75, up 133.80 points (0.6%).
- Sensex losing streak
- Four days, ended Monday.
- Nifty technical range
- Resistance area at 22,580–22,600; immediate support at 22,400, according to analysts.
- Leading gainers
- ITC, BSE and Tata Motors Passenger Vehicles.
- Broader market
- Nifty MidCap rose 0.67%; Nifty SmallCap gained 0.47%.
- Rupee
- Traded near 96.30.
- Upcoming policy decision
- RBI policy decision expected Wednesday.
Quotes
Market analysts
Analysts commenting on the Nifty’s technical outlook.
“The rebound can extend if the Nifty closes above 22,600 with broader participation and Bank Nifty crosses 55,175. Failure to clear these levels, especially alongside renewed strength in crude or a hawkish RBI outcome, could bring selling pressure back into the market.”
thehansindia.com
“A sustained move above this band could extend the recovery toward 22,800, while rejection would keep 22,400 as the immediate support.”
thehansindia.com
Sources
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