Market wrap: ITC, BSE, HCL Tech, Asian Paints top gainers and losers on Nifty and Sensex on Monday

Indian equity markets staged a strong recovery on Monday, supported by softer-than-expected US jobs data and a moderation in crude oil prices, offering some relief to investors assessing the near-term interest rate outlook.

The Nifty 50 ended the session at 22,555.75, gaining 133.80 points, or 0.60%. The Sensex rose 472.77 points, or 0.66%, to settle at 72,382.47.

Broader markets also staged a recovery, with the Nifty Smallcap 100 rising 0.47% and the Nifty Midcap 100 gaining 0.67%.


Among sectoral indices, the Nifty FMCG and Nifty Consumer Durables indices led the gains, rising around 2% each. In contrast, the Nifty Healthcare and Nifty Pharma indices declined nearly 1% each.

Market breadth, however, remained negative, with 1,846 stocks advancing on the NSE against 1,745 declines, while 115 stocks remained unchanged.

ALSO READ: Nifty rebounds after record 8-week rout, but is this a dead cat bounce investors should fear?

Here are today’s top gainers on the Nifty

Here are today’s top gainers on the Sensex

Here are today’s top losers on the Nifty

Here are today’s top losers on the Sensex

Technical View

Technically, the Nifty tested its broken weekly 200-SMA zone at 22,580–22,600 but closed below it. A sustained move above this band could extend the recovery toward 22,800, while rejection would keep 22,400 as the immediate support, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.

The rebound can extend if the Nifty closes above 22,600 with broader participation and Bank Nifty crosses 55,175. Failure to clear these levels, especially alongside renewed strength in crude or a hawkish RBI outcome, Radhakrishnan believes, could bring selling pressure back into the market.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here