Sensex, Nifty rebound as IT rally drives gains
Sensex, Nifty rebound as IT rally drives gains
Sensex and Nifty rebound from a three-day slide, led by IT giants Infosys and HCL Technologies, with a broader market uptick on improving global sentiment.
Sensex and Nifty closed higher on Monday, snapping a three-day losing streak as tech stocks led the rebound. The Sensex rose 319 points to 83,535 while the Nifty 50 gained 82 points to 25,574, helped by a rally in Infosys and HCL Technologies. Improved global sentiment, aided by progress toward ending the US government shutdown, lifted risk appetite and aided buying across sectors.
Within the broader market, Dreamfolks Services jumped about 10% after news of an acquisition in the hospitality sector. Nykaa, Nalco, Uno Minda, and Torrent Pharmaceuticals also posted gains in the 5-10% range amid strong earnings. The defense sector drew interest with Hindustan Aeronautics Ltd (HAL) and Bharat Dynamics Ltd (BDL) advancing on healthy volumes. On the downside, Trent emerged as the steepest Nifty loser, slipping around 7% after muted Q2 results, while Amber Enterprises and NCC slipped following guidance withdrawals and regulatory concerns on pricing.
Analysts flagged a chart setup that suggested the market could extend the rebound if key supports held. A decisive move above 25,700 could push Nifty toward 26,000 in the near term, while dips toward 25,200-25,300 were viewed as potential buy-on-dips opportunities for traders.
Cover image source: Nifty nears end of correction, key support seen at 25,200–25,300 🔗
