Mumbai: Indian stock markets saw high volatility on Monday but ended the session on a strong note. The BSE Sensex climbed 327 points to 78,821, while the Nifty 50 rose 89 points to 24,443.
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The day started weak. Nifty opened around 24,320 and slipped to near 24,280 in early trade due to selling pressure. However, the mood quickly changed as investors started buying at lower levels.
Market Rebounds After 6-Week Fall, Nifty Near 24,050 & Sensex Above 77,550 On Global SupportStrong Buying At Lower Levels
After the early dip, markets saw solid recovery. By mid-morning, Nifty moved above 24,390 and later touched levels near 24,470–24,485.
Banking stocks and large-cap companies played a key role in this recovery. Investors showed confidence by buying quality stocks when prices fell, which helped the market bounce back.
Crude Oil Eases, Supports Sentiment
One of the biggest triggers for the recovery was crude oil movement. At one point, oil prices had surged more than 8 percent, raising concerns. But later, the rise cooled to around 5 percent.
This easing reduced fear in the market, as high crude prices can hurt economies like India. Lower pressure from oil helped investors stay positive.
Sensex Surges 1,460 Pts To 74,156, Nifty Climbs 463 Pts Near 23,000 As Value Buying Lifts MarketsThree Key Reasons Behind Market Rally
Hope Around US-Iran Ceasefire: Markets are closely watching the April 22 ceasefire deadline between the US and Iran. While tensions remain, investors expect the situation will not worsen sharply. This kept panic selling under control.
Continued FII Buying: Foreign investors supported the rally. On April 17, FIIs bought shares worth Rs 683 crore. Over the last three sessions, they have invested around Rs 4,600 crore, boosting market confidence.
Strong Technical Support: Nifty held its key support at 24,250 and stayed above 24,300. This indicates strength in the short-term trend.
Key Levels To Watch
Support: 24,250 / 24,200
Strong Support: 24,100
Resistance: 24,550 / 24,600
Breakout: Above 24,600 may trigger further rally
Sensex jumps 1,205 pts, Nifty Gains 392 Pts, Markets Rise On Softer Oil & Global CuesWhat To Watch Next
Investors will track:
- West Asia developments
- Crude oil staying below USD 100
- FII buying trend
- Q4 earnings and company outlook
Markets remain sensitive but overall sentiment has improved after today’s strong comeback.
Discliamer: This article is for informational purposes only and not investment advice. Market investments are subject to risks. Readers should consult financial advisors before making any investment decisions based on market movements.