Mkts rise over 1% as value buying spurs rebound on D-St
Mumbai: Stock markets rebounded on Monday with benchmark Sensex jumping by 943 points on value buying in blue-chip oil & gas, banking and auto shares after facing a massive drubbing on the Budget day.
The 30-share BSE Sensex rallied 943.52 points or 1.17 per cent, to settle at 81,666.46. During the day, it surged 1,009.31 points or 1.25 per cent to a high of 81,732.25. The 50-share NSE Nifty climbed 262.95 points or 1.06 per cent to end at 25,088.40. During the day, it advanced 282.65 points or 1.13 per cent to 25,108.10.
Value buying after a sharp correction on Budget day and a steep decline in global crude oil prices helped key indices recover, experts said. From the Sensex firms, Power Grid jumped 7.61 per cent and Adani Ports climbed 4.76 per cent. Bharat Electronics, Reliance Industries, Mahindra & Mahindra, Larsen & Toubro, InterGlobe Aviation, ICICI Bank and UltraTech Cement were among the other major gainers. Axis Bank, Infosys, Tata Consultancy Services, Trent and Titan were the laggards.
Among indices, BSE Utilities jumped the most by 2.66 per cent, followed by power (2.54 per cent), services (2.38 per cent), energy (1.98 per cent), auto (1.98 per cent), oil & gas (1.92 per cent) and metal (1.90 per cent). IT, BSE Focused IT and healthcare were the laggards.
India's manufacturing sector activity witnessed a slight recovery in January, amid faster increase in new orders, even as business confidence slipped to its lowest level in three-and-a-half years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), rose from a two-year low of 55 in December to 55.4 in January.
In the PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction. Finance Minister Nirmala Sitharaman on Sunday announced measures to boost manufacturing, offered long-term tax incentives for global data centres, and support for agriculture and tourism as she unveiled a Rs 53.5 lakh crore Union Budget for 2026-27, seen as a long-term blueprint for sustaining growth amid rising global risks. Shunning populist measures despite five key states, including West Bengal and Tamil Nadu, heading to polls, the Budget signalled continued fiscal consolidation and infrastructure spending.
