Indian equity markets remained largely rangebound during Monday's trading session as benchmark indices struggled to establish a firm direction. According to CNBC TV18, the NSE Nifty50 closed at 24,583, gaining 13 points or 0.05%, after experiencing significant volatility throughout the day. The index opened 11 points higher but soon came under selling pressure, falling sharply in the first 30 minutes of trade. However, bulls staged a strong recovery, with the Nifty rebounding more than 100 points from the day's low by the end of the first half. The recovery failed to sustain, and the index subsequently gave up nearly 75 points from the day's high in the latter half of the session. Among Nifty 50 constituents, Titan, Tata Consumer Products and Bajaj Finance were the top gainers, while SBI, Eternal and ITC were the biggest laggards. The 30-share BSE Sensex rose by 152.05 points, or 0.19 per cent, to end at 78,581 with 17 constituents closing with gains, 12 with losses and one unchanged in the previous session.
Sector-wise performance showed mixed trends across different segments with Realty, Private Banks and Consumer Durables emerging as the top-performing sectors, while PSU Banks, Oil & Gas and Healthcare ended among the biggest losers. For the Sensex, Consumer Discretionary, Auto, FMCG, Financial Services and Healthcare led gains, while Information Technology remained largely unchanged and Telecom underperformed. The Nifty Midcap 100 rose 0.62%, while the Nifty Smallcap 100 declined 0.27%. Technical analysts expect immediate support at 24,400-24,450 for Nifty and 24,750-24,800 as key resistance zone for Monday's trading session. Nagaraj Shetti of HDFC Securities expects the Nifty to remain positive as long as it sustains above the previous breakout support zone of 24,300-24,400, while Sudeep Shah of SBI Securities said the 24,750-24,800 zone will remain a crucial hurdle for the index. Tech View analysts note that the 24,650 level remains a key resistance, with decisive move above this level potentially inducing a sustained rally, while support is placed at 24,500, below which weakness might intensify.
Among individual stocks, Hitachi Energy India surged more than 11 per cent to around ₹36,240 following strong quarterly earnings and positive commentary on its growth outlook, reporting a more than 123 per cent year-on-year rise in quarterly profit. Paytm gained around 9 per cent to ₹1,573 after favourable analyst commentary helped the stock reach a fresh 52-week high. Titan Company advanced nearly 3 per cent after reporting a 63 per cent year-on-year increase in Q1 consolidated net profit to ₹1,777 crore, driven by robust jewellery demand. In contrast, Power Finance Corporation declined more than 8 per cent as investors reacted to concerns over net interest income, margins and the growth outlook following its quarterly results. Gift Nifty trends also pointed to a muted start for Monday, trading at around 24,666, indicating a premium of 18.3 points over the previous close. India VIX rose 0.8% to settle at 12.24 levels, indicating moderate market volatility.
Global markets showed mixed performance as investors assessed geopolitical developments and market cues. According to CNBC TV18, Asian markets traded higher on Monday after Wall Street indices ended at record levels on Friday, supported by softer US jobs data. Japan's Nikkei gained around 2 per cent as positive global sentiment provided some support to domestic markets. However, crude oil remained a key concern for domestic equities, with Brent crude trading near $83.50 per barrel amid continued uncertainty surrounding the Strait of Hormuz. Oil prices edged lower on Thursday as investors assessed whether ongoing Iran-Oman negotiations could pave the way for a broader US-Iran peace agreement. Brent crude futures slipped 37 cents (0.5%) to $79.08 a barrel, while US West Texas Intermediate (WTI) crude declined 53 cents (0.7%) to $74.69 a barrel. Diplomatic efforts remained in focus after Reuters reported that a draft proposal between Iran and Oman could allow Tehran to oversee vessels entering the Gulf through the Strait of Hormuz.
Market experts remain selective amid mixed global cues and ongoing geopolitical tensions. According to CNBC TV18, market momentum is likely to remain constructive this week, with the final leg of the Q1FY27 earnings season expected to drive stock-specific moves as well as broader market action. Investors will also keep an eye on June-quarter earnings from SBI, Titan, Hindalco, Hitachi Energy and Godrej Consumer Products, along with the US non-farm payrolls data due later on Friday. Market analysts note that after recent rapid rallies, short-term consolidation is healthy and creates fresh entry opportunities for traders on dips. The RSI strengthened to 61.96 for Nifty and 61.13 for Sensex, suggesting bullish momentum remains intact, with the broader market structure continuing to favour a sideways-to-bullish outlook as long as key support levels remain intact. Eight stocks recommended for intraday trading include One 97 Communications (Paytm) at ₹1,429, Samvardhana Motherson International at ₹154.34, Piramal Finance at ₹2,140-2,150, Ipca Laboratories at ₹1,750-1,760, Vedanta at ₹270-275, Finolex Cables at ₹1,030 target, TD Power Systems at ₹1,201 target, and Granules India at ₹845 target.
