The Indian equity markets witnessed significant gains on Monday, marking a second consecutive session of positive performance. The Sensex closed with a 0.58% increase, gaining 485 points to settle at 84,065, while the Nifty surged by 0.68%, adding 173 points to close at 25,867. The broader markets outperformed the benchmark indices, with the Nifty Midcap 100 index rising by 1.58% and the NSE Smallcap 100 surging by 2.64%.
Supportive trends from broader Asian markets contributed to maintaining the positive momentum throughout the trading session. Various sectors, including PSU banks, consumer durables, realty, defence, pharma, and auto stocks, attracted buying interest. Notably, IT stocks displayed mixed trends amid ongoing evaluations of global technology advancements.
All sectoral indices showed gains, with Nifty Media leading as the top gainer with a surge of 4.37%. Nifty Consumer Durables climbed by 3.60%, Nifty PSU Bank rose by 3.34%, Nifty Realty gained 2.61%, and Nifty Metal added 1.56%. Analysts noted that investor participation remained selective post the initial uptick, with a cautious approach observed ahead of significant global and domestic macroeconomic cues.
The market is currently in a phase of gradual recovery and consolidation, with future trends likely to be influenced by global macro developments, currency fluctuations, and the sustainability of the risk-on sentiment seen in foreign fund flows. The Indian rupee strengthened by 0.12% against the dollar, reaching 90.68 per dollar. Market watchers indicated immediate support levels at 25,550–25,600, followed by a stronger demand zone near 25,450–25,500. Bank Nifty is consolidating around the 60,500–60,700 range, reflecting a healthy digestion of recent gains rather than distribution.
