Nifty 50 Bounces Back; Nifty Bank Inches Close to All-Time High
The Nifty 50 slid 34 points to conclude at 24,717, while the BSE Sensex dropped slightly by 77 points to close at 81,374. The Nifty Bank index closed at 57,776—near a record high—after gaining 356 points. After a remarkable recovery from early losses, the BSE Midcap index ended the day at 55,903, up 154 points and almost 1% from its lowest level.
Indian stock markets staged a smart recovery in the second half of trading on Monday, with key indices closing near their session highs as broader markets outperformed.
The BSE Sensex fell marginally by 77 points to close at 81,374, while the Nifty 50 eased 34 points to end at 24,717. The Nifty Bank index gained 356 points, closing near a record high at 57,776. The BSE Midcap index rebounded strongly from early losses, rising 154 points to finish at 55,903, up nearly 1% from its lows.
Metal stocks came under pressure after U.S. President Donald Trump doubled tariffs on steel and aluminium to 50%. Sector heavyweights faced selling, dragging overall metal shares lower.
In corporate news, Mphasis declined 3% on reports of losing one of its largest clients. Hero MotoCorp dropped 2% and Tata Motors slipped 1% after May sales data fell short of estimates. Conversely, Mahindra & Mahindra rose over 1% as its May sales beat expectations, continuing to outperform peers.
Nykaa was one of the biggest losses among midcaps, falling 4% after the quarterly results were met with conflicting breaking opinions. Mazagon Dock’s stock fell 3% as a result of lower-than-expected revenue growth forecasts for FY26. After obtaining an engineering, procurement, and construction (EPC) order from East Central Railway, IRCON saw a 2% increase in value.
Shares of Genus Power jumped 6%, while Puravankara declined 8% after releasing its Q4 results. Spandana dropped 7% as Q4 disbursements plunged 91% year-on-year and 75% quarter-on-quarter, with net interest income falling 48% year-on-year.
New listings saw Schloss (Th Leela) close near its issue price after a subdued debut, while Aegis Vopak gained 3% on its first day of trading.
Market breadth remained neutral, with advancing and declining stocks evenly matched at a 1:1 ratio.
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