Sensex up 120 pts; Nifty near 25,500; pharma, realty stocks lead; IT, metal drag

Indian stocks, which opened lower on Monday amid a cautious market mood, were quick to trim losses in morning deals.

The BSE Sensex index was at 82,802 levels, rising 175 points or 0.21 per cent, at 10 AM. The NSE Nifty50, meanwhile, was at 25,523, higher by 51 points or 0.2 per cent.

Among the Sensex pack, Power Grid, HDFC Bank, Eicher Motors, NTPC, Axis Bank, and Bajaj FinServ were leading the gains, trading higher by up to 3 per cent. On the other hand, Infosys, Tech Mahindra, SBI, Adani Ports, and Maruti Suzuki India were trading lower by up to 1.6 per cent.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices were trading lower by 0.11 per cent each.

The fear index, India VIX, which measures market volatility, was trading higher by 1.6 per cent.

Sectoral indices on the NSE reflected mixed sentiment. Buying was seen across pharma, realty, private bank, and consumer durable counters, while IT, auto, metal, and PSU bank stocks were under pressure.

The Nifty Realty index led the gains, trading higher by 0.79 per cent, followed by Nifty Pharma at 0.72 per cent. Nifty IT and Nifty Auto indices were trading lower by 0.63 per cent and 0.50 per cent, respectively.