Stock market today: Sensex, Nifty end flat after volatile session on Monday
Benchmark equity indices Sensex and Nifty ended marginally higher on Monday after a highly volatile trading session, as strong gains in IT heavyweights helped markets recover from steep early losses triggered by soaring crude oil prices and escalating geopolitical tensions in West Asia.
The 30-share BSE Sensex settled 47.01 points, or 0.06%, higher at 77,616.40, after plunging as much as 711.96 points (0.91%) to an intraday low of 76,857.43 during morning trade. The benchmark later erased all losses and briefly climbed 219.90 points before paring gains in the final hour of trade.
The NSE Nifty50 also staged a recovery, ending 4.10 points, or 0.02%, higher at 24,211, extending its winning streak to a third consecutive session.
The rebound was driven by a sharp rally in IT stocks after upbeat earnings optimism.
Markets had opened sharply lower, with the Sensex falling over 630 points in early trade as investors reacted to a fresh spike in global crude oil prices following renewed military escalation in West Asia. Brent crude, the global benchmark, was trading 2.57% higher at $77.96 a barrel, fuelling concerns over inflation, higher input costs and their potential impact on economic growth.