Indian stock markets staged a strong recovery on Monday, snapping a three-day losing streak, as the BSE Sensex surged 639.42 points or 0.83 percent to close at 77,303.63. The broader Nifty 50 also ended higher, reflecting broad-based buying across sectors.
During the trading session, the 30-share Sensex touched an intraday high of 77,420.04, gaining 755.83 points or 0.98 percent, before paring some gains. Market analysts attributed the rebound to value buying at lower levels and positive global cues.
Market Recovery Driven by Value Buying
After three consecutive sessions of decline, investors saw an opportunity to enter the market at attractive valuations. The recovery was led by banking, IT, and auto stocks, which had witnessed significant selling pressure in the previous days.
Key Indices Performance
- BSE Sensex: Closed at 77,303.63, up 639.42 points (0.83%)
- Intraday High: 77,420.04, a gain of 755.83 points (0.98%)
- Nifty 50: Ended higher, mirroring the Sensex trend
The market breadth was positive, with advancing stocks outnumbering decliners on the BSE. Analysts expect the momentum to continue if global factors remain supportive.
Global Cues and Outlook
Positive trends in Asian and European markets also boosted investor sentiment. However, experts advise caution as volatility may persist due to ongoing macroeconomic concerns.
The rebound comes after a three-day decline that had eroded investor wealth. Monday's rally helped recover a portion of those losses, bringing relief to market participants.
