Sensex rises 483 points, Nifty above 22,750 as IT, metals lead rebound

Stock markets recovered on Monday after a weak start, with the Sensex rising nearly 483 points and the Nifty closing above 22,750, supported by buying in metal, IT and other heavyweight stocks. However, elevated crude oil prices, a weak rupee and continued geopolitical uncertainty kept investors cautious.The BSE Sensex rose 482.92 points, or 0.66%, to close at 73,606.75. The index had opened at 72,990.04 and slipped to an intraday low of 72,514.57 before recovering to its day's high at the close.The NSE Nifty 50 gained 153.20 points, or 0.68%, to settle at 22,753.20. The index also recovered from its intraday low of 22,387.35 to close at the day's high.METAL, IT AND PHARMA STOCKS SUPPORT MARKETSBuying in metal stocks helped lift the benchmarks, with the Nifty Metal index rising 2.21%. The Nifty Pharma index gained 1.76%, while the Nifty IT index advanced 0.87%. Among Sensex stocks, Adani Ports was the top gainer, rising 2.72%. Eternal gained 2.56%, while Tata Steel rose 1.52%. Bharti Airtel added 1.43%, and ITC advanced 1.24%. Reliance Industries gained 1.01%, while Infosys rose 0.91%.On the other hand, Bajaj Finance fell 0.76%, HDFC Bank declined 0.56%, and HCL Technologies lost 0.42%. Power Grid and Maruti Suzuki also ended lower.BROADER MARKETS RECOVER The recovery extended to the broader market, where the Nifty 100 rose 0.73%, the Nifty 200 gained 0.82% and the Nifty 500 advanced 0.85%.Midcap and smallcap stocks also rebounded after the sharp correction in the previous sessions. The Nifty Midcap 50 rose 1.25%, the Nifty Midcap 100 gained 1.19%, and the Nifty Smallcap 100 advanced 1.38%.Sectorally, the Nifty MidSmall IT and Telecom index gained 2.34%, while the Nifty MidSmall Healthcare index rose 2.19%. The Nifty Chemicals index added 0.11%. Consumer durables was among the few weak pockets, declining 0.21%, while the Nifty Media index slipped 0.34%.India VIX, which measures expected market volatility, rose 1.73% to 17.15, indicating that uncertainty remained elevated despite the rebound.CRUDE OIL AND RUPEE REMAIN IN FOCUSCrude oil prices eased on Monday but remained elevated amid continuing tensions in the Middle East. Brent crude futures fell 1.40% to $115.09 per barrel, while US West Texas Intermediate crude declined 1.85% to $101.36.The rupee also remained under pressure, falling 0.3% against the US dollar to 95.1850 as importers increased dollar purchases. Elevated oil prices and foreign fund outflows added to the pressure on the domestic currency.High crude prices remain a concern for India because they can raise the import bill, fuel inflation and put pressure on corporate margins.Vinod Nair, Head of Research at Geojit Investments Limited, said Indian equities recovered from early losses, supported by value buying and strength in metals, power and healthcare stocks. However, elevated crude prices, geopolitical uncertainty and caution ahead of policy decisions by the US Federal Reserve, European Central Bank and Bank of Japan continued to limit investor confidence.“Mid- and small-caps also witnessed some recovery after last week’s sharp correction, although investors remained selective, favouring earnings visibility and valuation comfort,” Nair said.He added that early quarterly results indicated a commodity-led earnings boost in power generation, metals and refining, but warned that high energy costs and interest rates could moderate overall corporate growth in the coming quarters.Investors will track crude oil prices, geopolitical developments and upcoming central bank decisions for further direction. The market's ability to sustain the recovery will also depend on quarterly earnings, foreign investor flows and whether buying in beaten-down midcap and smallcap stocks continues.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends