Indian equity markets rebounded on Monday, with the benchmark NSE Nifty 50 and BSE Sensex recovering nearly 2% from their intraday lows to snap a four-day losing streak that had wiped out substantial investor wealth.
The Nifty 50 gained 153 points, or 0.68%, to close at 22,753, while the BSE Sensex advanced 483 points, or 0.66%, to settle at 73,607.
Broader markets also recovered following Friday’s sharp sell-off, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising more than 1% each. However, the India VIX, a gauge of market volatility, climbed nearly 2% to 17.14.
Market breadth on the NSE turned positive, with 2,063 of the 3,681 stocks traded closing in the green, while 1,525 ended lower. The remaining 93 stocks were unchanged.
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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
Nifty’s close back below the 20 DMA on Friday is disappointing, with VIX’s sharp rise cautioning towards a plunge that could aim for 21,600,” said Anand James, Chief Market Strategist at Geojit Investments.
However, he noted that Friday’s long lower wick pointed to attempts at recovery. “We will look for a push above 22,690 to confirm strength for the day. Alternatively, inability to float above 22,460 could be taken as resumption of downsides,” he added.
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