Indian markets rebound as Sensex climbs 450 points, Nifty holds above 22,750

Indian stock markets rebounded on Monday, with the Sensex climbing 450 points from its day's low and the Nifty trading above the 22,750 mark, driven by value buying and other supportive factors. At 10:22 am, the Sensex was up 354.66 points or 0.49% at 72,883.73, while the Nifty gained 49.50 points or 0.22% to 22,765.70. Advancing shares outnumbered decliners, with 2,353 stocks rising against 1,152 falling. The Nifty IT index rose 2.6%, snapping an eight-session losing streak, while pharma and healthcare stocks were the worst hit, declining 1.7% and 0.9% respectively. Analysts cited value buying in oversold conditions, a 2% drop in the India VIX volatility index to 13.17, and technical support levels as key factors. The semi-annual Nifty 50 rejig took effect, with BSE replacing Wipro in the index. Experts noted that Nifty must trade below 22,650 for further bearishness, with 22,600/72,200 as an important support zone.