Equity markets rebounded in mid-session after an early fall, as broad-based profit-taking — now persisting for a fourth straight session — initially dragged the market lower. Sentiment stabilised later, however, with metals gaining sharply after the US Federal Reserve’s 25-basis-point rate cut, helping offset the wider selloff and lifting key indices back into positive territory.
zoomed 407.03 points or 0.48 per cent to 84,798.30 at 1.49 pm, and 50 increased by 133.95 points or 0.52 per cent to 25,891.95.
Nifty midcap 100 and smallcap 100 rose 0.88 per cent and 0.71 per cent, respectively. On the sectoral front, all indices traded in green. Nifty auto increased over 1 per cent. Pharma, healthcare, consumer durables and banking stocks led the chart.
Kotak Mahindra, Eternal lead gainers of Nifty 50
Among the Nifty 50 pack, Kotak Mahindra Bank, Eternal, Jio Financial, Dr Reddy’s Laboratories, Adani Enterprises and Maruti led the gainers, while Bajaj Finance, Asian Paints, Bharti Airtel, Bajaj Finserv and Apollo Hospitals were biggest laggards.
Market breadth stayed firmly positive, with 1,856 stocks advancing against 1,147 declining, while 98 remained unchanged out of a total 3,101 stocks traded. Despite the mixed undertone, momentum remained healthy as 23 stocks hit 52-week highs, though a larger 88 slipped to 52-week lows.
Overall sentiment was supported by selective strength, reflected in 51 stocks locked in upper circuits, compared with 39 in lower circuits, indicating buyers held a clear edge through the session.
Under the midcap segment, Dixon Tech, Sona, BSE, KEI Industries, KPIT Tech, Vodafone Idea rose 2-4 per cent, while Supreme Industries, Godfrey Phillips, AU Small Finance Bank, M&M Financial, Tata Communications declined 1-2 per cent.
Ola Electric railled 8 per cent, Natco Pharma, KFin Tech, Ircon International, Kaynes Tech increased 4-6 per cent. MRPL, Aster DM, Welspun Corp, Kajaria, IGIL declined 1.5-2 per cent.