CHENNAI: Indian stock markets on Monday closed higher, supported by strong gains in the auto and metal sectors. The benchmark S&P BSE Sensex rose by 76.54 points, or 0.09 percent, to end at 80,787.30. Meanwhile, the NSE Nifty50 gained 32.15 points, or 0.13 percent, closing at 24,773.15.
Auto and metal companies led the rally during the day. The Nifty Auto index jumped 3.3 percent, as shares of Tata Motors, Mahindra & Mahindra, and Maruti Suzuki rose significantly. This followed recent announcements of vehicle price cuts and reductions in GST rates, which raised investor optimism. The Nifty Metal index also gained 0.37 percent, with companies like JSW Steel and Tata Steel performing well.
However, the IT sector faced some selling pressure. The Nifty IT index fell by 0.94%, with major IT companies such as HCL Technologies and Tech Mahindra seeing declines. This was partly due to global uncertainties impacting investor sentiment toward the technology space.
Investor sentiment remained broadly positive, supported by expectations that the US Federal Reserve may reduce interest rates later this month to support slowing global growth. At the same time, concerns over rising crude oil prices and ongoing trade tensions limited the market’s upside momentum.
The broader market showed strength, as the Nifty Midcap100 and Nifty Smallcap100 indices advanced by 0.50 percent and 0.16 percent, respectively. This suggests that investors were also looking beyond large-cap stocks for opportunities.
Among individual stocks, Tata Motors was the biggest gainer, rising 4.25 percent to Rs 721.10. Other top gainers included Bajaj Auto, which went up by 4.08 percent, and Mahindra & Mahindra, up by 4.01 percent. On the flip side, stocks like Trent, Asian Paints, and HCL Technologies were among the biggest losers of the day.
Overall, while markets closed with gains, late-session profit booking indicated that investors remained cautious. Analysts suggest that in the coming days, markets may continue to experience volatility. Key factors to watch include upcoming economic data releases and global developments, especially related to interest rate moves and geopolitical tensions.
This trading session reflects the balancing act between positive domestic reforms and global uncertainties, as India’s markets remain sensitive to both internal and external factors.