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Mumbai Stock Market Recovers: Sensex and Nifty Show Positive Movement

In a notable recovery, Mumbai's stock market saw the Sensex rise nearly 40 points and the Nifty close above 25,750, ending a two-day decline. This uptick was fueled by buying in select auto and banking shares. Despite profit-taking and foreign fund outflows, key players like Mahindra & Mahindra and Tata Motors showed positive movement. However, Maruti Suzuki faced a significant drop. As global markets also showed gains, investors remain cautiously optimistic about future trends. Read on for a detailed analysis of the market movements.
 

Market Overview


Mumbai: The benchmark indices saw a slight uptick on Monday, with the Sensex gaining nearly 40 points and the Nifty closing above 25,750, marking an end to a two-day decline. This recovery was attributed to buying interest in select auto and banking stocks.


The BSE Sensex rose by 39.78 points, or 0.05%, finishing at 83,978.49, with 14 stocks advancing and 16 declining. Intraday, it reached a peak of 84,127 and a low of 83,609.54.


Meanwhile, the NSE Nifty recorded a modest increase of 41.25 points, or 0.16%, closing at 25,763.35.


Analysts noted that profit-taking at elevated levels, coupled with a lack of new domestic triggers and foreign fund outflows, kept the market within a narrow range.


Among the Sensex constituents, Mahindra & Mahindra emerged as the top performer, climbing 1.7% following positive October sales figures. Tata Motors Passenger Vehicles also saw a rise of 1.69%. Other notable gainers included Eternal, State Bank of India, Bharti Airtel, and Kotak Mahindra Bank.


Conversely, Maruti Suzuki experienced the largest decline, dropping 3.37%. Other significant laggards included ITC, Tata Consultancy Services, Larsen & Toubro, Bharat Electronics, and Titan.


Data from the exchange indicated that Foreign Institutional Investors (FIIs) sold equities worth Rs 6,769.34 crore on Friday, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 7,068.44 crore.


In the Asian markets, South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index all closed positively.


European markets were also trading higher, and US markets finished up on Friday.


The global oil benchmark, Brent crude, saw a slight decrease of 0.14%, settling at USD 64.71 per barrel.


On the previous Friday, the Sensex had fallen by 465.75 points, or 0.55%, closing at 83,938.71, while the Nifty dropped by 155.75 points, or 0.60%, to 25,722.10.