Stock Market Highlights: Benchmark indices staged a sharp recovery from intraday lows to end near the flatline, with the Sensex rising 185 points to close at 73,320 and the Nifty gaining 34 points to settle at 22,713. The Nifty rebounded more than 2% from the day’s lows, supported by buying in IT and banking stocks.
Market breadth turned positive as the session progressed, with the NSE advance-decline ratio improving to 2:1, indicating broader buying interest. The Nifty Bank index recovered strongly, gaining 100 points to close at 51,549 after rising over 3% from its intraday lows. However, the Midcap index underperformed, slipping 142 points to end at 53,677.
IT stocks led the recovery, accounting for four of the top five Nifty gainers, including HCLTech, Tech Mahindra, Wipro, and Infosys. Banking names also supported the rebound, aiding the late-session pullback.
Among other movers, metal stocks like Hindalco and Nalco advanced on the back of rising aluminium prices. Bosch surged over 5% ahead of a board meeting to consider a preferential issue, while Page Industries gained 4% amid continued buying interest.
On the downside, Eicher Motors emerged as the top Nifty loser, falling over 2% following its monthly sales update. Sun Pharma also ended in the red, though it trimmed losses to close off intraday lows.
In the broader market, midcap stocks faced selling pressure, with SRF, Polycab Group Electro, Amber Enterprises, and Biocon featuring among the top losers.
Meanwhile, the Indian rupee strengthened against the US dollar, rising by ₹1.70 to 93.15, supported by the RBI’s recent measures aimed at stabilising the currency.
