New Delhi : Indian stock markets staged a strong comeback on Monday, November 9, recovering from early losses to end the session in positive territory. The BSE Sensex gained 107.32 points to close at 81,106.48, while the NSE Nifty 50 climbed back above the key 25,000 mark.

The recovery was largely powered by strong buying in public sector banks and pharmaceutical stocks, even as weakness in IT and metal shares limited overall market gains.

PSU Banks Emerge as Top Performers

Public sector banking stocks dominated the session, with the Nifty PSU Bank index surging 3.61% to touch multi-month highs. SBI, Punjab National Bank and Bank of Baroda were among the major contributors to the rally.

Pharmaceutical stocks also witnessed strong buying, with the Nifty Pharma and Healthcare indices rising over 1.5%. Divi’s Laboratories stood out after reporting a 64% jump in net profit, pushing its shares to an all-time high.

IT Stocks Under Pressure

Technology stocks remained among the biggest drags on the market. The Nifty IT index declined 1.55%, with Infosys, TCS and Tech Mahindra facing selling pressure.

Metal stocks also ended lower, with Tata Steel falling 2.79% amid post-results profit-booking and concerns surrounding its UK operations.

Top Gainers and Losers

Among Nifty 50 constituents, SBI advanced 2.55%, Larsen & Toubro gained 1.87%, HDFC Bank rose 1.74%, while Trent added 1.62%.

On the losing side, Tata Steel dropped 2.79%, HCLTech declined 2.53%, UltraTech Cement slipped 2.39% and Infosys shed 1.68%.

Broader Markets Remain Resilient

Broader market indices also managed modest gains, with the Nifty Midcap 100 rising 0.20% and the Smallcap 100 advancing 0.05%.

Meanwhile, the India VIX, a key indicator of market volatility, fell 5.05% to 17.50, signalling a decline in near-term market uncertainty.

Despite mixed market breadth, strong institutional buying in banking and pharma stocks helped benchmark indices finish the day on a positive note.