The Indian stock market closed Monday’s session, October 26, with solid gains, snapping a four-day losing streak as key indices recovered sharply from their intraday lows. A strong rebound in financial stocks, along with a rally in technology and metal stocks, supported market sentiment.
Global sentiment also turned favourable for bulls as crude oil prices eased from last week’s highs, providing some relief from inflation concerns.
The Nifty 50 opened lower at 22,524, and the sell-off accelerated at the opening bell, dragging the index towards 22,387 before it staged a sharp recovery. Supported by gains in financial stocks, the index closed 0.68% higher at 22,735.
The Sensex also ended the session 0.66% higher at 73,606. Broader markets outperformed the benchmark indices, with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining 1.38% and 1.25%, respectively.
Vinod Nair, Head of Research at Geojit Investments, said Indian equities recovered from early losses, supported by value buying and strength in metals, power and healthcare. However, elevated crude prices, geopolitical uncertainty and caution ahead of the Fed, ECB and BoJ policy decisions kept sentiment measured.