MUMBAI– The Indian stock markets kicked off the week on a positive note, with benchmark indices closing higher and the Bank Nifty surging to an all-time high of 57,000, signaling robust momentum in the banking sector.
The BSE Sensex ended the session up 256.22 points, or 0.31%, at 82,445.21, while the NSE Nifty gained 100.15 points, or 0.40%, to close at 25,103.20.
Midcap and smallcap stocks outperformed largecaps, reflecting broader market participation. The Nifty Midcap 100 rose by 664.65 points (1.13%) to 59,674.95, while the Nifty Smallcap 100 added 290.95 points (1.57%) to close at 18,873.40.
Sectorally, gains were led by auto, IT, PSU banks, financial services, pharma, metal, and media stocks. The only sector to end in the red was real estate, with the Nifty Realty index slipping slightly.
Top gainers in the Sensex pack included Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid, IndusInd Bank, Maruti Suzuki, Bajaj Finserv, NTPC, TCS, and Tata Motors. On the other hand, Zomato, ICICI Bank, Titan, Mahindra & Mahindra, and Tata Steel were among the top laggards.
Financial stocks continued to rally, buoyed by the Reserve Bank of India’s recent policy moves, including a rate cut and a reduction in the cash reserve ratio (CRR), which are expected to enhance liquidity in the short to medium term.
“These actions have boosted investor confidence and are expected to significantly improve liquidity conditions, particularly in midcaps,” said Vinod Nair, Head of Research at Geojit Financial Services. “In addition, positive U.S. jobs data and renewed hopes around U.S.-China trade talks lifted global sentiment. Domestically, renewed buying in large-cap stocks, backed by FII inflows, further strengthened market momentum.”
Bank Nifty’s record-breaking performance was a key highlight of the day. The index surged to 57,049, marking a strong breakout from a month-long ascending triangle pattern.
“This upward breakout follows several failed attempts to clear the resistance zone and now confirms a decisive move past the previous congestion range,” said Om Mehra, technical analyst at Samco Securities.
Analysts noted that the index is trading comfortably above all key moving averages. The daily Relative Strength Index (RSI) stood at 69 and the weekly RSI at 68, both signaling strong momentum without breaching overbought territory. A recent bullish divergence in the RSI further reinforces the strength of the breakout, they added.
With strong technical indicators and supportive policy cues, market participants remain optimistic about continued gains, especially in the financial and midcap segments. (Source: IANS)
