The S&P BSE Sensex fell 0.67% to 84,778.84, adding 566.96 points, while the NSE Nifty 50 rose 0.66% or 170.90 points to 25,966.05.
This is how analysts read the market pulse:
The domestic market witnessed a broad-based recovery on the back of progress in US-China trade talks, said Vinod Nair, head of research at Geojit Investments, adding that gold prices fell as demand for safe havens declined.
“Softer-than-expected US CPI data renewed expectations of a Fed rate cut this week, boosting investor confidence. Easing global headwinds, coupled with strong domestic reforms, provided guidance on domestic earnings growth and justified current premium valuations,” Nair said.
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US markets Wall Street’s major indexes hit record highs on Monday as expectations of a US-China trade deal fueled risk-taking at the start of a week dominated by Big Tech gains and a likely Federal Reserve rate cut.
US President Donald Trump and China’s Xi Jinping will meet on Thursday to decide the framework for a deal to pause tougher US tariffs and Chinese export controls on rare earths. Wall Street’s fear gauge, the VIX, hit a one-month low. Earlier this month, Trump’s revival of the trade war had pushed the volatility index to its highest level since the implementation of his ‘Liberation Day’ tariffs in April.
European marketsEuropean shares hit an intraday record high on Monday as signs of easing trade tensions between the United States and China boosted risk appetite.
The MSCI index of shares around the world rose 8.90 points, or 0.89%, to 1,010.27 and was on track for its third straight winning session, while the pan-European STOXX 600 index rose 0.23%.
Technical view
The Nifty started strong and remained largely sideways throughout the day ahead of the NSE F&O expiration, said Rupak De, Senior Technical Analyst at LKP Securities, adding that sentiment remains strong as the index remains above the breakout point.
“The current setup looks favorable for a further rally in the index, with dips likely to be bought. On the downside, support is placed at 25,700, below which weakness could emerge. On the higher side, resistance is seen at 26,000; a decisive move or close above this level could trigger a rally towards 26,500 in the near term,” De said.
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Most active stocks in terms of turnover
Vodafone Idea (Rs 2,147 crore), RIL (Rs 2,089 crore), ICICI Bank (Rs 1,455 crore), HDFC Bank (Rs 1,576 crore), Chennai Petro (Rs 1,266 crore), Coforge (Rs 1,266 crore) and Bharti Airtel (Rs 1,205 crore) were among the most active stocks on BSE in terms of value. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 214.06 crore), YES Bank (shares traded: Rs 8.12 crore), Adani Power (shares traded: Rs 5.16 crore), Sagility India (shares traded: Rs 3.94 crore), IRB Infrastructure Developers (shares traded: Rs 3.20 crore), Canara Bank (shares traded: Rs 3.20 crore). 3.04 crore) and Eternal (shares traded: 2.77 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks that show buying interest
Shares of Firstsource, eClerx Services, RR Kabel, HBL Power, Vodafone Idea, Netweb Technologies and Intellect Design were among the stocks that witnessed strong buying interest from market participants.
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52-week highMore than 193 stocks hit their 52-week highs today, while 95 stocks fell to their 52-week lows. Tata Steel, SBI and Bharti Airtel were among those that hit 52-week highs.
Stocks that faced selling pressure Stocks that saw significant selling pressure included Kotak Mahindra Bank, Infosys, Adani Ports SEZ, Bajaj Finance, Mahindra & Mahindra, Sun Pharma and HUL.
Sentiment meter neutral
Market sentiment was neutral. Of the 4,502 shares traded on the BSE on Monday, 2,198 shares saw a decline, 2,099 rose, while 205 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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