Closing Bell: Sensex up 650 pts, Nifty at 25,680 – What drove stock market rebound? Anil Singhvi explains

Indian markets ended higher on Monday, tracking short covering and reduced global concerns, said market expert Anil Singhvi.

The BSE Sensex closed at 83,277.15, up 650.39 points or 0.79 per cent, while the Nifty 50 settled at 25,682.75, gaining 211.65 points or 0.83 per cent.

The Sensex had opened lower at 82,480.40, down 146.36 points from the previous close of 82,626.76, and touched an intraday low of 82,276.95. Nifty 50 opened at 25,423.60, down 47.50 points, and swung between a high of 25,697.00 and a low of 25,372.70.

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Top Gainers and Losers

Among major gainers, PowerGrid rose 4.45 per cent, HDFC Bank 2.19 per cent, Axis Bank 1.93 per cent, NTPC 1.60 per cent, and ITC 1.39 per cent.

Other notable performers included Asian Paints, Bajaj Finserv, and Tata Steel, all gaining over 1 per cent. On the downside, Tech Mahindra fell 1.44 per cent, Kwality Wall’s 1.30 per cent, Maruti 1.13 per cent, and Bajaj Finance 1.08 per cent.

Nifty Sectoral Indicies

Sector-wise, Nifty Bank rose 1.27 per cent, PSU Bank 1.50 per cent, and Nifty Realty 1.59 per cent, while Nifty Auto and Nifty Media fell 0.73 per cent and 0.87 per cent, respectively.

Other sector indices ended higher with Nifty Pharma up 0.94 per cent, FMCG 0.82 per cent, Oil & Gas 0.90 per cent, and Metal 0.69 per cent. IT indices gained marginally with Nifty IT up 0.17 per cent.

Among broader markets, Nifty Next 50 rose 0.97 per cent to 69,496.75. Nifty Midcap 50 gained 0.38 per cent, Nifty Smallcap 50 0.52 per cent, and Nifty 500 0.68 per cent. Nifty FPI 150 advanced 0.72 per cent, while Nifty Microcap fell 0.74 per cent.

Where did market recovery come from? Anil Singhvi explains

Explaining the recovery, Singhvi said, “The first reason for the rebound is Nifty’s put-call ratio reaching oversold levels, which triggered sharp short covering.”

He added, “The correction from the Budget day highs was completed today. Both Nifty and Bank Nifty filled their technical gaps, providing a strong base for the bounce.”

Singhvi also highlighted easing global concerns. “The panic over AI disruption seen earlier has reduced. While short-term risks exist, fundamentally strong companies will find solutions. This calm supported the market recovery.”

He concluded, “Overall, the rebound was driven by oversold technical indicators, gap fills, and reduced global fear, making the recovery expected and well-supported.”

Stock Market Update

On the NSE, 1,343 stocks advanced, 1,827 declined, and 95 remained unchanged. Fifty-one stocks hit 52-week highs, while 148 touched 52-week lows. Sixty stocks were in the upper circuit and 84 in the lower circuit. Total market capitalisation stood at Rs 463.65 lakh crore.

Global Markets Today

Global markets showed a mixed but largely positive trend on February 16. GIFT Nifty was trading at 25,701.50, up 156.50 points or 0.61 per cent.

Dow Futures gained 212.80 points (0.43 per cent) to 49,713.70, while the Dow Jones rose 48.93 points (0.10 per cent) to 49,521.92. The S&P 500 advanced 28.50 points (0.42 per cent) to 6,891.00.

In Asia, Nikkei declined 135.56 points (0.24 per cent) to 56,806.41, whereas Hang Seng climbed 138.82 points (0.52 per cent) to 26,705.95. However, Kospi slipped 15.26 points (0.28 per cent) to 5,507.01.

European markets were also higher, with DAX up 13.44 points (0.05 per cent) at 24,928.32, CAC rising 23.01 points (0.28 per cent) to 8,334.75, and FTSE 100 gaining 18.61 points (0.18 per cent) to 10,464.96.