- Sensex and Nifty close little changed after a volatile trading day.
- Midcap index rebounds over 1,100 points from intra-day lows.
- Realty, capex-linked stocks lead gains; banking stocks see weakness.
The Indian stock market experienced a highly volatile session on Monday, ultimately closing flat. The Sensex dropped 112 points to 73,086, while the Nifty 50 slipped 5 points to 22,119.
Sector-wise, auto stocks had a mixed trend based on February sales reports, with M&M, Escorts Kubota, Eicher Motors, and TVS Motors posting gains, while Maruti Suzuki, Bajaj Auto, Hero MotoCorp, and Tata Motors declined.
Nifty Holds Above 22,100 as Market Ends Choppy Session
The Indian equity market saw a roller-coaster ride on Monday, with the Sensex and Nifty fluctuating throughout the day before ending nearly unchanged. Broader markets experienced a sharp recovery, especially in midcaps, which erased significant intra-day losses. While banking stocks remained weak, capital expenditure-driven stocks and real estate companies saw strong buying interest.
Among sectoral movements, auto stocks had a mixed closing as companies reported February sales. Mahindra & Mahindra, Escorts Kubota, Eicher Motors, and TVS Motors outperformed on stronger-than-expected numbers, while Maruti Suzuki, Bajaj Auto, Hero MotoCorp, and Tata Motors fell due to weaker sales. Meanwhile, capital market stocks like Angel One and MCX faced selling pressure, with Angel One declining by 9%.
Real estate stocks were among the best performers, with Prestige Estates and Godrej Properties posting solid gains. Aditya Birla Real Estate surged 7% after launching a new residential project. Meanwhile, UltraTech Cement attracted investor interest after positive comments from its management. Other infrastructure-related stocks, including Cummins India, Siemens, and ABB, also registered gains.
Despite the volatility, the Nifty 50 managed to stay above the psychologically crucial 22,100 level, preventing a further breakdown. The broader market breadth, however, remained skewed towards declines, with the advance-decline ratio at 1:3.
Monday’s market session showcased resilience despite volatility, with a strong recovery in midcaps and realty stocks supporting the indices. While banking and select auto stocks faced pressure, broader market sentiment showed signs of stability.
“Volatility is the price you pay for performance.” – Bill Miller
