Markets recovered partially from sharp morning losses by midday Monday as geopolitical tensions over U.S. airstrikes on Iranian nuclear facilities continued to weigh on investor sentiment. The Sensex traded at 81,853.78, down 554.39 points or 0.67 per cent from its previous close of 82,408.17, after opening at 81,704.07. The Nifty 50 stood at 24,960.85, declining 151.55 points or 0.60 per cent from its previous close of 25,112.40, opening at 24,939.75.
The benchmark indices showed signs of recovery from their morning lows, with the Sensex climbing nearly 150 points from its opening level and the Nifty gaining around 20 points. Market participants remained cautious as crude oil prices continued to surge amid concerns over potential supply disruptions from the Strait of Hormuz.
Trent emerged as the top gainer on the Nifty 50, surging 2.80 per cent to 6,062.50. Bharat Electronics Limited (BEL) advanced 2.72 per cent to 419.35, while Hindalco Industries climbed 1.95 per cent to 661.80. Adani Enterprises gained 1.22 per cent to 2,478.30, and Adani Ports rose 1.02 per cent to 1,363.10.
On the downside, Infosys led the losers, falling 2.29 per cent to 1,585.70. Hero MotoCorp declined 1.78 per cent to 4,261.10, while HCL Technologies dropped 1.66 per cent to 1,711.10. Mahindra & Mahindra retreated 1.61 per cent to 3,133.00, and Tata Consultancy Services slipped 1.48 per cent to 3,384.90.
Market breadth remained weak, with 2,253 stocks declining on the BSE against 1,652 advancing. A total of 4,097 stocks were actively traded. The session saw 86 stocks hitting 52-week highs while 74 touched 52-week lows. Circuit restrictions affected 210 stocks on the upper side and 262 on the lower side.
Sectoral indices showed mixed performance with the Nifty Midcap 100 gaining 0.36 per cent to 58,201.45, bucking the broader market trend. However, financial services remained under pressure with the Nifty Financial Services index down 0.59 per cent at 26,490.15 and the Nifty Bank index declining 0.56 per cent to 55,937.45. The Nifty Next 50 managed a marginal gain of 0.10 per cent to 66,771.35.
The recovery from morning lows suggested some bargain hunting by investors, though trading volumes remained elevated as market participants monitored developments in the Middle East conflict and its potential impact on global commodity prices and inflation outlook.