Sensex ends 260 points higher, Nifty above 24,300; Adani Ports gains 4%
Benchmark indices ended the session in green, but gains eroded sharply from morning highs amid profit booking and a rise in market volatility.The S&P BSE Sensex rose 259.75 points to close at 80,501.99, while the NSE Nifty50 ended just 12.50 points higher at 24,346.70.Both benchmarks had surged in early trade, buoyed by positive global cues and buying across sectors. However, the momentum faded as the day progressed, with investors locking in profits at higher levels.advertisement
A marginal uptick in volatility also weighed on sentiment, leading to a pullback in several frontline stocks.The broader markets reflected the caution, with mid-cap and small-cap indices turning mixed after a strong start. Several stocks in these segments came under pressure, reversing early gains.Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity, said, 'The improved early sentiment was fuelled by easing concerns over a potential trade war between the U.S. and China, following China's indication of willingness to engage in trade negotiations. Furthermore, foreign institutional inflows lent additional support to the domestic market. Despite this, gains were capped due to investor caution arising from escalating geopolitical tensions between India and Pakistan.'He added that the session was marked by 'pronounced volatility, with significant movement seen on both sides of the trade.'advertisementBroader market indices mirrored the choppy trend. After a strong start, several mid-cap and small-cap stocks came under pressure, leading to a mixed closing. Among sectors, Oil & Gas, Financial Services, and Information Technology outperformed, while Consumer Durables, Metals, Realty, and Pharmaceuticals witnessed weakness.On the derivatives front, 83 stocks ended with gains, while 138 declined. Notable open interest build-up was seen in Federal Bank, Phoenix Mills, PNB Housing, JSW Steel, and Indus Towers.Must Watch
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