New Delhi, 30 March (H.S.):

India’s benchmark stock indices edged higher from intraday lows during early trading on Monday, March 30, after a volatile start marked by steep falls following last week’s sharp correction. The BSE Sensex and Nifty 50 both opened deep in the red but staged a partial recovery as buyers stepped in, even as both indices remained in negative territory through the morning session.

At the opening bell, sustained selling pressure pushed both the Sensex and Nifty sharply lower. The Sensex opened at 72,565.22, down 1,018 points, and within minutes slid to around 72,391.98, losing about 175 points from the opening level.

However, bargain hunters soon built up buying momentum, and the index rallied nearly 775 points from its intraday low to touch 73,165.32, before slipping back into the red again as fresh selling emerged. By 10 a.m., the Sensex was trading at 72,816.94, down 766.28 points or 1.04 percent on the day.

On the National Stock Exchange, the Nifty 50 opened at 22,549.65, down 269.95 points, and briefly fell to 22,470.15, losing about 350 points in the first few minutes.

A wave of fresh buying lifted the index by roughly 245 points from its morning low to 22,714.10, but selling pressure returned, and by 10 a.m. Nifty stood at 22,612.65, down 206.95 points or 0.91 percent.

Among key large‑cap stocks, several heavyweights showed strength in the early session, offering a partial cushion to the broader indices. Shares of Hindalco Industries, Coal India, ONGC, Bharat Electronics and Reliance Industries traded between 0.77 percent and 4 percent higher by 10 a.m., supported by bargain buying and sector‑specific optimism.

At the same time, financial and private‑sector stocks saw sharper declines, with Axis Bank, Kotak Mahindra Bank, Max Healthcare, Bajaj Finserv and SBI Life Insurance slipping between 1.56 percent and 3.06 percent, pressured by profit‑booking and concerns over valuations.

Across the broader market, active trading was seen in 2,816 stocks by the morning session, with 796 advancing and 2,020 trading in the red, underscoring a predominantly negative sentiment despite the intraday bounce.

On the benchmark indices, seven of the 30 Sensex stocks were in the positive zone while 23 remained in the red, while the Nifty basket showed 10 gainers and 40 losers, reflecting the selective nature of the recovery.

The weak start on March 30 came on the heels of a sharp weekly correction. On Friday, March 27, the final trading day of the previous week, the Sensex had closed at 73,583.22, down 1,690.23 points or 2.25 percent, while the Nifty ended at 22,819.60, lower by 486.85 points or 2.09 percent.

These losses were triggered by global risk‑off sentiment, concerns over regional geopolitics and profit‑taking in previously overheated pockets of the market.

Analysts said the Monday morning bounce from intraday lows showed that short‑term oversold conditions had attracted some buying, particularly in select large‑caps and beaten‑down sectors. However, they cautioned that the overall trend remained cautious, with investors closely watching global cues, domestic macro data and any fresh signals on interest‑rate policy before committing to a sustained turnaround.

As the day progressed, traders and institutional investors were seen balancing the urge to buy on dips against the risk of further volatility, keeping both the Sensex and Nifty in a narrow but negative band for most of the early session.

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Hindusthan Samachar / Jun Sarkar