The benchmark BSE Sensex witnessed extreme volatility on Monday, plunging 1,134.78 points or 1.50% to an intraday low of 74,180.26 before staging a stellar recovery to close nearly flat at 75,315.04, gaining 77.05 points or 0.10%. According to reports from ET Now, the index opened with a gap down of around 430 points amid weak global cues and initial selling pressure, but strong recovery emerged in the latter half of the session as buying interest from lower levels helped fill the opening gap and touch an intraday high of 75,466.60. A total of 3,034 stocks declined while 1,264 advanced and 194 remained unchanged on the BSE, with the 50-share NSE Nifty edging higher by 6.45 points or 0.03% to end at 23,649.95. The index opened flat to mildly positive by around 100 points at 75,497.10 and initially witnessed buying momentum, touching an intraday high of 75,870.36 during the early part of the session, before gradual selling pressure emerged throughout the day.
From the Sensex firms, Tech Mahindra, Infosys, Bharti Airtel, Bajaj Finserv, Sun Pharma, HCL Tech, Bajaj Finance and Tata Consultancy Services were among the major winners, while Tata Steel, Power Grid, State Bank of India and NTPC were major laggards. As reported by ET Now, sector-wise performance showed Information Technology, Focused IT, Healthcare, and Telecommunication sectors showing relative strength during the session, with BSE Focused IT jumping 2.53% and IT gaining 1.95%. However, Auto, Capital Goods, Metal, Oil & Gas, Consumer Durables, Power, Commodities, and Realty remained under pressure, while Banking and Financial sectors traded on a mixed note. The BSE MidCap Select index climbed 0.17% while the SmallCap Select index dropped 1.62%. In the latest session, Focused IT, IT, Services, Telecommunication, and FMCG showed relative strength, while Metal, PSU Banks, Realty, Oil & Gas, Capital Goods, Commodities, Industrials, and Bankex witnessed selling pressure and underperformed the broader market.
Technical experts maintain that the underlying market structure remains volatile and cautious, with buying interest persisting at lower levels but overhead supply pressure continuing to cap major gains. According to ET Now reports, Hitesh Tailor from Choice Broking noted that the Sensex managed to recover sharply from lower levels after testing the crucial support zone near 74,000–74,250, indicating buying interest still persists at lower levels. However, the index continues to face resistance around 75,700–76,000, where supply pressure is visible on every rise. SEBI-registered analyst Vipin Dixena emphasized that the index is currently undergoing a consolidation phase, with the index remaining trapped between 74,100 support and 75,800 resistance. A sustained move above 75,800 can trigger upside towards 76,300–76,500, while failure to hold above EMA 50 may bring renewed selling pressure. The index continues to trade in a volatile consolidation phase after the recent sharp correction, with immediate support placed in the 74,400–74,600 zone and resistance seen around 75,800–76,000.
The Indian rupee weakened further and closed at a record low of ₹96.35 against the US dollar on Monday, as reported by ET Now. Global crude oil prices remained elevated as Brent crude, the global oil benchmark, traded 0.73% higher at USD 110.1 per barrel, showing no signs of easing amid ongoing geopolitical tensions. In the commodity market, gold prices continued to rise and were trading at ₹1,58,971 per 10 grams for 24 karat gold, while silver prices gained 0.22% to ₹2,72,721 per kilogram. The previous session on Friday saw the Sensex drop 160.73 points or 0.21% to settle at 75,237.99, with the Nifty settling lower by 46.10 points or 0.19% at 23,643.50, snapping its two-day gaining streak.
