Stock market today: Nifty50 ends above 25,700 after volatile trade; Sensex gains 302 points

Stock market today: India's equity benchmark indices, Nifty50 and Sensex, snapped a five-day losing streak on Monday, recovering from early losses to close higher on the back of bargain hunting in energy, banking and metal stocks, even as persistent foreign fund outflows and rising geopolitical tensions limited the upside.The 30-share BSE Sensex ended 301.93 points, or 0.36 per cent, higher at 83,878.17, after swinging sharply during the session. The benchmark had slipped 715.17 points, or 0.85 per cent, to 82,861.07 in early trade, briefly falling below the 83,000 mark.The NSE Nifty also pared intraday losses to settle 106.95 points, or 0.42 per cent, higher at 25,790.25, after declining 209.9 points, or 0.81 per cent, to 25,473.40 in morning deals.“Sentiment was shaped by a combination of global and bilateral developments. Early caution reflected ongoing geopolitical tensions and global trade uncertainties that weighed on risk appetite,” Ajit Mishra, SVP–Research, Religare Broking Ltd, said, PTI quoted.“However, the mood improved in the afternoon after reports suggested that India–US trade discussions are progressing and are set to continue, which encouraged value buying and eased some concerns. This change in tone, along with selective bargain hunting after recent declines, supported the late-session rebound,” Mishra added.From the Sensex pack, Tata Steel, Asian Paints, Trent, State Bank of India, Hindustan Unilever, UltraTech Cement, ICICI Bank and Bharti Airtel ended higher, while Infosys, Bajaj Finance, Bharat Electronics, Larsen & Toubro and HDFC Bank were among the laggards.Broader markets underperformed, with the BSE smallcap index declining 0.68 per cent and the midcap index slipping 0.41 per cent.Safe-haven assets remained in demand as geopolitical tensions persisted, helping precious metals extend their rally, while the commodities space outperformed on the back of firm metal prices amid supply-side constraints and renewed buying interest, Bajaj Broking Research said in a note.Among sectoral indices, metal rose 1.92 per cent, followed by commodities (1.06 per cent), energy (0.85 per cent), PSU banks (0.58 per cent), consumer durables (0.54 per cent) and FMCG (0.44 per cent). On the downside, realty fell 1.13 per cent, capital goods declined 0.82 per cent, industrials 0.67 per cent, telecommunication 0.46 per cent and power 0.36 per cent.Signalling an effort to rebuild strained ties, President Donald Trump’s new ambassador to India, speaking on his first day in office, said that no country is as essential as India to the United States and that both sides are actively engaged in firming up a trade deal.In his arrival remarks, Sergio Gor also announced an invitation to New Delhi for a US-led strategic alliance, known as ‘Pax Silica’, focused on critical minerals and artificial intelligence.“The Indian market rebounded from the day’s lows as investor sentiment improved following favourable remarks on the trade deal by the US Ambassador ahead of the next round of negotiations,” Vinod Nair, Head of Research, Geojit Investments Limited, said.“This positive undertone provided a lift to overall market sentiment. Value buying was also evident in consumer and banking stocks, as investors sought opportunities after recent corrections, supported by expectations of stronger Q3 earnings and improving demand,” Nair added.According to exchange data, foreign institutional investors sold equities worth Rs 3,769.31 crore on Friday, while domestic institutional investors bought shares worth Rs 5,595.84 crore.Over the past five sessions, the Sensex has declined 2,185.77 points, or 2.54 per cent, while the Nifty has fallen 645.25 points, or 2.45 per cent.In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite and Hong Kong’s Hang Seng closed higher. European markets were trading on a mixed note, while US markets ended in positive territory on Friday.Brent crude, the global oil benchmark, slipped 0.27 per cent to USD 63.17 per barrel.On Friday, the Sensex had dropped 604.72 points, or 0.72 per cent, to close below the 84,000 level at 83,576.24, while the Nifty fell 193.55 points, or 0.75 per cent, to 25,683.30, according to PTI.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)