Markets held onto gains at midday on Monday but pared early morning highs, with the BSE Sensex trading at 77,324.40, up 410.90 points or 0.53 per cent, and the NSE Nifty 50 at 24,122.15, up 124.60 points or 0.52 per cent, as of 12.31 pm — both indices off their opening peaks as selling pressure mounted in banking and telecom stocks.
Breadth on the BSE remained positive, with 2,688 stocks advancing against 1,475 declining and 226 unchanged, out of 4,389 stocks traded. A total of 163 stocks hit 52-week highs while 27 touched 52-week lows. Upper circuit triggers were seen in 217 stocks, compared to 173 in the lower circuit, reflecting selective but uneven momentum across the broader market.
Among Nifty 50 gainers, Hindustan Unilever led with a 3.87 per cent rise to ₹2,338, touching a high of ₹2,365.80, on volumes of 15,12,837 shares worth ₹35,368.01 lakhs. Adani Ports climbed 3.84 per cent to ₹1,721, with 47,06,743 shares worth ₹80,885.85 lakhs traded, remaining one of the session’s most actively traded stocks. Max Healthcare rose 2.46 per cent to ₹1,017.50 on volumes of 17,35,606 shares worth ₹17,487.79 lakhs. Shriram Finance gained 2.40 per cent to ₹959.80, with 22,85,959 shares worth ₹21,969.89 lakhs, while infrastructure major L&T also advanced 2.40 per cent to ₹4,110.20, with 11,92,739 shares worth ₹49,024.79 lakhs traded.
On the losing side, Kotak Mahindra Bank remained the session’s biggest drag, down 2.49 per cent to ₹373.75 — the most actively traded stock with a staggering 5,36,25,200 shares worth ₹2,00,156.06 lakhs changing hands. Bharti Airtel fell 2.47 per cent to ₹1,840.20 from a previous close of ₹1,886.80, on volumes of 54,61,682 shares worth ₹1,01,883.85 lakhs, making telecom one of the weakest sectors of the session. Dr. Reddy’s Laboratories slipped 2.42 per cent to ₹1,290.90 from ₹1,322.90, with 10,29,861 shares worth ₹13,382.12 lakhs traded. ONGC declined 1.80 per cent to ₹294.15, with 85,19,037 shares worth ₹25,100.49 lakhs, and TCS dropped 1.65 per cent to ₹2,433.10 from ₹2,473.90 on 14,44,540 shares worth ₹35,459.12 lakhs, keeping IT under pressure despite the weak rupee environment.
In commodities, COMEX Gold was trading above $4,600, facing resistance at the $4,640–$4,670 band, while MCX Gold held above ₹1,51,000. COMEX Silver was consolidating in the $76–$77 zone, and MCX Silver was range-bound near ₹2,49,000–₹2,51,000. MCX Crude Oil was trading above ₹9,700, retreating from recent highs near ₹10,500, while US Oil hovered near $102, pulling back from highs of around $110, with the $100 level serving as a key psychological support. The USD/INR pair was near ₹94.9, consolidating after briefly touching all-time highs near ₹95.30.
…”Indian equity markets have opened on a firm footing, supported by a combination of favourable global cues and optimism surrounding state election outcomes. However, underlying conditions remain volatile, with sentiment shaped by a mix of macroeconomic pressures and event-driven triggers,”… said Ponmudi R, CEO of Enrich Money.
Bank Nifty, which opened around 54,930, remained under pressure, with 54,500–54,400 serving as a critical support zone. …”A sustained breakout above 55,900–56,000 is essential to regain upward momentum toward 57,500–58,000 levels,”… Ponmudi added. Nifty 50 continues to face resistance at 24,300–24,400, with 23,900–23,800 as downside support. State election results from West Bengal, Tamil Nadu, Kerala, Assam and Puducherry continue to be monitored, with any decisive verdict expected to influence sentiment through the second half of the session.