equity benchmarks recovered from early morning losses on Monday, as strong performance in metal stocks helped offset weakness in technology shares during mid-day trading. The 30-share BSE Sensex traded at 77,654.64, up 74.33 points or 0.10 per cent from its previous close, while the broader NSE Nifty50 gained 26.60 points or 0.11 per cent to reach 23,559.30 around 12.30 PM.
Metal stocks emerged as top gainers, with Hindalco Industries leading the pack with a 5.16 per cent surge, followed by Tata Steel advancing 3.34 per cent. Two-wheeler manufacturer Hero MotoCorp continued its strong performance, rising 3.76 per cent. Coal India and Adani Ports added to the positive momentum, gaining 1.84 per cent and 1.72 per cent respectively.
Technology stocks faced selling pressure, with IT majors Wipro, TCS, and Infosys declining 2.99 per cent, 2.72 per cent, and 2.50 per cent respectively. Healthcare Major Dr. Reddy’s dropped 1.91 per cent, while retailer Trent fell 1.79 per cent.
Market breadth remained negative, with 2,317 stocks declining compared to 1,660 advances on the BSE. Circuit filters were triggered for 744 stocks, with 416 hitting lower circuit and 328 touching upper circuit limits. The session saw 150 stocks reaching 52-week highs, while 172 touched their 52-week lows.
Broader market indices showed mixed performance, with Nifty Next 50 outperforming the benchmark, rising 0.84 per cent to 67,976.30. The Nifty Midcap Select index traded marginally higher, up 0.13 per cent at 12,115.45.
Financial sectors displayed resilience, with the Nifty Bank index gaining 0.51 per cent to 50,434.00, while the Nifty Financial Services index rose 0.58 per cent to 23,333.75.
The market recovery comes after six consecutive sessions of losses, though trading remains volatile amid mixed global cues and ongoing concerns about delayed US rate cuts. The movement in afternoon trading will be crucial in determining if the benchmarks can sustain their gains and break the recent losing streak.