The Indian equity markets staged a strong recovery on Monday, with both benchmark indices posting significant gains after the sharp decline in the previous session. According to The Economic Times, the Sensex gained 427 points to reach 75,203 while the Nifty 50 index advanced 107 points to 23,654. This represents a 0.5% gain for both indices, demonstrating robust investor confidence following the recent volatility. The recovery was supported by a decline in India VIX of more than 3% to 15.64, indicating reduced market volatility expectations. Market breadth remained strongly positive with 1,823 stocks advancing on NSE compared to 841 declining and 125 remaining unchanged, as reported by The Economic Times.
IndiGo shares emerged as the top performer on Sensex, surging over 4.5% following the release of their Q4 results, as reported by The Economic Times. Other major gainers included Infosys, Asian Paints, TCS, Tech Mahindra, HCL Tech and Reliance Industries (RIL), all posting gains of 1-3%. However, some blue-chip stocks bucked the trend, with NTPC, Kotak Mahindra Bank and Axis Bank shares declining around 1% each. The broader market segments significantly outperformed the frontline indices, with the Nifty Midcap 100 index gaining more than 0.5% and the Nifty Smallcap 100 index rising 0.8%. Sectorally, the Nifty IT index jumped more than 2% to lead gains, while the Nifty FMCG and Nifty Private Bank indices slipped into the red.
The media sector staged a strong recovery after declining in the previous trading session, with the Nifty Media index adding 1.19% to reach 1,391.45. Key performers included Sun TV Network (up 3.24%), Prime Focus (up 2.25%), Zee Entertainment Enterprises (up 1.84%), Tips Music (up 1.27%), and Hathway Cable & Datacom (up 0.76%). Other notable gainers were Saregama India (up 0.69%), Network 18 Media & Investments (up 0.29%), Nazara Technologies (up 0.21%), and D B Corp (up 0.14%). This recovery demonstrates renewed investor interest in the media sector following the previous session's decline.
The metal sector extended its impressive rally for the sixth consecutive trading session, with the Nifty Metal index adding 1.78% to reach 13,732.60. As reported by Business Standard, this represents a 4.32% jump over the six-session period, demonstrating sustained investor interest in the sector. Key performers included Hindalco Industries (up 3.78%), Welspun Corp (up 3.68%), National Aluminium Company (up 3.59%), and APL Apollo Tubes (up 3.33%). Other notable gainers were Vedanta (up 2.23%), Hindustan Zinc (up 1.5%), NMDC (up 1.47%), Tata Steel (up 1.4%), Lloyds Metals & Energy (up 1.24%), and Steel Authority of India (up 1.04%).
Several companies reported significant quarterly results, with AIA Engineering emerging as a standout performer. According to latest reports, the company's consolidated net profit rose 37.84% to ₹393.33 crore in Q4 FY26 from ₹285.35 crore in Q4 FY25, while revenue from operations increased 9.44% YoY to ₹1,266.26 crore in the quarter ended 31 March 2026. However, Transrail Lighting faced challenges, declining 4.52% after the company's consolidated net profit declined 24.14% to ₹96.50 crore on a 3.94% drop in revenue from operations to ₹1,831.45 crore in Q4 FY26 over Q4 FY25.
The Indian rupee opened at 94.97 against the US dollar, nearly unchanged from the previous closing level of 95, as reported by The Economic Times. The currency has recovered sharply after a long streak of hitting fresh lifetime lows and nearing the 97-mark against the US dollar. Lower crude prices have eased concerns over India's import bill and provided support to the domestic currency, according to Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities. Foreign investors remained strongly bearish on the Indian stock market, net selling Indian equities worth ₹21,105.86 crore on Friday, according to NSE data, representing the highest single day net selling by FII in May. This sustained selling pressure continues to influence market dynamics despite the current recovery.
