Business

IIE DIGITAL DESK : March 16: India’s domestic equity markets staged a recovery on Monday morning after opening the session on a weak note, with both the benchmark indices — the BSE Sensex and the Nifty 50 — managing to turn positive amid renewed buying interest from investors.

The trading day began with a cautious sentiment as early selling pressure pushed both indices into negative territory shortly after the opening bell. However, the downturn proved short-lived as investors gradually returned to the market, picking up shares across several sectors and helping the indices recover their early losses.

The BSE Sensex fell by 148.13 points to begin the session at 74,415.79. Within the first few minutes of trading, the selling pressure intensified slightly, pushing the index further down to 74,384.61. Soon after, however, market sentiment improved as buyers stepped in, leading to a steady recovery in the benchmark index.

By around 10:00 a.m., the Sensex had reversed its losses and moved into the green, gaining 38.93 points to trade at 74,602.85, reflecting a rise of about 0.05 percent from the previous close. The recovery highlighted investors’ willingness to accumulate select stocks despite the initial cautious start.

A similar trend was visible in the broader market benchmark, the Nifty 50 of the National Stock Exchange of India. The index opened the session lower, dropping 35 points to start the day at 23,116.10. Shortly after trading began, the Nifty slipped further to an intraday low of 23,098 due to early selling activity.

Buying interest quickly returned, helping the index regain momentum. Within the first fifteen minutes of trading, the Nifty climbed back into positive territory. By 10:00 a.m., the index was trading at 23,190.30, up by 39.20 points or around 0.17 percent.

Among the major gainers in early trading were several heavyweight stocks that supported the market’s recovery. Shares of Grasim Industries, JSW Steel, Hindalco Industries, InterGlobe Aviation and Tata Steel recorded gains ranging between 1.38 percent and 2.47 percent, contributing significantly to the upward movement of the indices.

On the other hand, some stocks remained under selling pressure. Shares of Shriram Finance, Coal India, ONGC, Max Healthcare Institute and Dr. Reddy’s Laboratories were seen trading lower, registering declines ranging from 0.24 percent to 1.63 percent during the early session.

Market breadth in the morning session indicated a mixed trend. Out of approximately 2,045 stocks actively traded on the exchanges, 882 stocks were trading in positive territory while 1,163 stocks were in the red, reflecting cautious participation by investors.

Within the Sensex pack of 30 stocks, 20 were trading with gains while 10 were under pressure. Similarly, among the 50 constituents of the Nifty index, 32 stocks were trading higher and 18 were trading lower at the time of reporting.

Market analysts observed that the early dip followed by a recovery reflects a balance between cautious profit-booking and selective buying. Investors appeared to be focusing on fundamentally strong companies while also reacting to broader global cues and sector-specific developments.

The movement of heavyweight metal and aviation stocks provided important support to the indices, helping the market recover from its initial weakness. As the trading session progressed, investors continued to monitor global market signals, commodity price movements and domestic economic indicators that could influence market sentiment.

The early turnaround in both the Sensex and the Nifty suggested that despite initial volatility, investor confidence in the market remained intact. Traders and analysts will continue to watch whether the positive momentum sustains through the rest of the trading day as institutional investors and retail participants adjust their positions in response to evolving market conditions.