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NSE’s Nifty rose 255.15 points, or 1.1%, to close at 22,968.25. BSE’s Sensex rose 787.3 points, or 1.1%, to end at 74,106.85. Both indices were down as much as 0.8% earlier in the day.
Monday’s market recovery was driven by a mix of fundamental and technical factors, said Shrikant Chouhan, head of Equity Research, Kotak Securities.
“Short covering from oversold levels, along with crude staying below $110 despite Trump’s threats, lifted sentiment and triggered buying interest,” he said.
The India VIX slipped 0.2% to 25.47 on Monday, a modest decline, pointing to lingering caution among investors despite the market’s rebound.
The ceasefire plan – including an end to the hostilities between the US and Iran and reopening the Strait of Hormuz – comes ahead of Donald Trump’s Tuesday deadline to Tehran to allow passage through the key shipping route.
At home, foreign portfolio investors net sold shares worth ₹8,167 crore. Domestic institutions were buyers worth ₹8,089 crore. Broader market indices Nifty Midcap 150 gained 1.4%, and Nifty Small-cap 250 rose 1.1% on Monday. Out of the total 4,544 stocks traded on BSE, 3,193 advanced and 1,173 fell at close.
“The recent decline has lost momentum over the past few sessions, opening room for a rebound,” said Chouhan.
The Nifty could move towards 23,200 in the near term, where profit booking may emerge, he said.
Elsewhere in Asia, Japan gained 0.55% and South Korea advanced 1.4%. Stock markets in China, Hong Kong and Taiwan remained shut on Monday. The pan-Europe index Stoxx 600 was down 0.2% at the time of going to print.
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https://economictimes.indiatimes.com/markets/stocks/news/d-st-grasps-at-ceasefire-straw-rebounds-1-from-early-losses/articleshow/130073270.cms
