Sensex, Nifty Recover as FMCG, Energy and Banks Lead Gains

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Sensex gained 472.77 points to close at 72,382.47, while Nifty rose 133.80 points to 22,555.75.
FMCG was the top-performing sector, followed by telecom, consumer durables and financial services.
Easing crude prices and supportive global cues helped improve market sentiment, although foreign selling remained a concern.

Mumbai: Indian equity markets ended higher on Monday, recovering from their recent corrective trend as FMCG, energy and banking stocks led gains. Supportive global cues and easing Brent crude prices also helped improve market sentiment.

The Sensex closed at 72,382.47, gaining 472.77 points, or 0.66%, from its previous close of 71,909.70. The Nifty settled at 22,555.75, up 133.80 points, or 0.60%, against the previous close of 22,421.95.

All broad-market indices ended in positive territory.

FMCG Leads Sectoral Gains

Among sectoral indices, FMCG was the top performer, gaining 1.67%.

Telecom, consumer durables and financial services also recorded gains. Healthcare was the major laggard among the sectoral indices.

On the BSE, ITC, Eternal, Bajaj Finance, ICICI Bank, Adani Ports, Reliance, Bharti Airtel, TCS, L&T, Titan, NTPC, Maruti, Axis Bank and Power Grid were among the notable gainers.

HCLTech, Asian Paints, HDFC Bank, Sun Pharma, Infosys, BEL and Tech Mahindra were among the stocks that declined.

On the NSE, ITC, BSE, TMPV, Bajaj Finance, Adani Ports, NTPC, Eternal, Reliance, ICICI Bank, Bharti Airtel, TCS, ONGC, Power Grid, Axis Bank, SBI and Bajaj Finserv were among the major gainers.

HCLTech, Max Healthcare, Cipla, Sun Pharma, Infosys, Apollo Hospitals, Asian Paints, Kotak Bank, Tata Steel and JSW Steel were among the major laggards.

Global Cues Support Market Recovery

Market analysts said the benchmarks staged a strong recovery after the recent corrective phase.

The Nifty reclaimed the 22,500 level, while the Sensex closed around the 72,300 mark. The broader market also participated in the recovery, with both mid-cap and small-cap indices gaining nearly half a percent.

FMCG, energy and banking stocks led the recovery, supported by strength in selected companies following positive quarterly business updates.

Pharma and IT stocks underperformed after their recent period of relative strength.

Crude Prices Ease, Supporting Sentiment

Global market conditions also provided support as crude oil prices eased from recent highs.

Brent crude was hovering around USD 102 a barrel, providing some relief on the inflation front. Softer-than-expected US jobs data also reduced expectations of aggressive monetary tightening by the US Federal Reserve, according to the analyst cited in the market commentary.

At the time of reporting, Brent crude was trading around USD 102.59 per barrel, while crude oil was around USD 90.58 per barrel.

However, elevated US Treasury yields and a weak rupee continued to weigh on the outlook. The rupee remained above the ₹96 per US dollar level, while persistent foreign selling remained a key concern for domestic equities.

Nifty Faces Resistance Near 22,650-22,800

From a technical perspective, the Nifty showed signs of a relief recovery after testing the long-term support zone around 22,400-22,600.

According to the analyst, the 22,650-22,800 zone could act as the immediate hurdle for the index. A sustained move beyond that zone could bring the 23,000-23,200 range into focus.