Market wrap: Dr Reddys, JSW Steel, Shriram Finance, Tata Consumer top gainers and losers on Nifty and Sensex on Monday

Sensex and Nifty recovered from intraday lows, ending higher as Dr Reddy’s and JSW Steel rallied, while rising volatility kept investors cautious.

The Nifty 50 gained 153 points, or 0.68%, to close at 22,753, while the BSE Sensex advanced 483 points, or 0.66%, to settle at 73,607.

Broader markets also recovered following Friday’s sharp sell-off, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising more than 1% each. However, the India VIX, a gauge of market volatility, climbed nearly 2% to 17.14.

Market breadth on the NSE turned positive, with 2,063 of the 3,681 stocks traded closing in the green, while 1,525 ended lower. The remaining 93 stocks were unchanged.

Here are today’s top gainers on the Nifty

Nifty’s close back below the 20 DMA on Friday is disappointing, with VIX’s sharp rise cautioning towards a plunge that could aim for 21,600,” said Anand James, Chief Market Strategist at Geojit Investments.

However, he noted that Friday’s long lower wick pointed to attempts at recovery. “We will look for a push above 22,690 to confirm strength for the day. Alternatively, inability to float above 22,460 could be taken as resumption of downsides,” he added.

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