Indian Market Close
Nifty 50 closed at 22,549.95, gaining 128 points or 0.6% from the previous close of 22,421.95. Sensex climbed 400 points to 72,306.36, up 0.6% on the day, extending Friday's recovery as benchmark indices logged their first back-to-back gains in over a week.
The cash market opened higher at 22,532.40 and touched an intraday low of 22,182.55 before recovering through the afternoon session. The Nifty held above the 22,420 support level for most of the day, tracking firm buying interest across banking and financial services counters.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 22,549.95 | +128.00 | +0.57% |
| Sensex | 72,306.36 | ~+400 | +0.55% |
Sector Performance
Financial services, which commands a 36.5% weightage in the Nifty 50, drove the day's gains as banking stocks rebounded from recent lows. The Nifty Bank index closed at 54,450.75, down 182 points in a session marked by intraday volatility despite the broader market's positive finish.
Oil and gas stocks, accounting for 9.5% of the index, and information technology names at 8.5% weighting contributed to the advance. Automotive stocks, representing a 7.1% share, traded mixed. The Nifty Next 50 underperformed, closing at 68,981.35, down 765.60 points as mid-cap and broader market indices lagged large-caps.
GIFT NIFTY Session
GIFT NIFTY settled at 22,600.5, down 10.5 points or 0.05% from the previous close of 22,611.0, diverging from the cash market's upward trajectory. The derivative contract opened Session I at 22,640.0 and traded in a 222-point range between a high of 22,723.0 and a low of 22,501.0 through the extended session.
| GIFT NIFTY | Level |
|---|---|
| Open | 22,640.0 |
| High | 22,723.0 |
| Low | 22,501.0 |
| LTP | 22,600.5 |
| Change | -10.5 (-0.05%) |
The contract rallied to session highs around midday before reversing sharply in early afternoon trade, dipping to 22,501.0 by 14:35 IST as the cash market tested support levels. GIFT NIFTY recovered into the close, tracking the domestic indices' afternoon bounce but failed to regain positive territory.
Market Outlook
GIFT NIFTY heads into Session II marginally below the 22,600 mark, reflecting trader caution despite the cash market's modest advance. The derivative's inability to sustain gains above 22,640 suggests limited conviction in the current bounce as Nifty 50 remains 6.2% below recent highs and trades near the lower end of its 52-week range between 22,182.55 and 26,373.20.