Nifty stages recovery in second half to end day with gains

The Nifty index closed with gains of 32.35 points at 22,055.70 levels on Monday, with the broader market underperforming. Sector-wise, metals, realty, and auto stocks saw buying while IT and FMCG stocks lagged behind. The week ahead will focus on central bank meetings and economic data releases.

Siddhartha Khemka of Motilal Oswal Financial Services stated, “The Nifty recovered in the second half of the session to close with gains of 0.15 per cent. Nifty Midcap 100 was down 0.3 per cent, and Nifty Smallcap 100 was down 0.6 per cent.”

Vinod Nair, Head of Research at Geojit Financial Services, mentioned that the Indian market followed positive Asian peers with a mixed bias. While domestic issues did not bring any negative views, premium valuations remain a concern. The midcaps and smallcaps are making attempts to rise despite ongoing consolidation.

According to Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, the Nifty closed positively at 22,055 and the Sensex closed at 72,748 on Monday. Nifty Metal and Nifty Auto were among the top gainers, up by 2.49 per cent and 1.26 per cent, respectively. Investors were drawn to the metal sector due to China’s strong growth in industrial output.