MUMBAI, India — Indian equity markets closed sharply higher on Monday, extending gains from the previous session as buying in information technology and metal stocks offset mixed global cues.
Investor sentiment was also buoyed by optimism surrounding the signing of the India–New Zealand free trade agreement, which supported broader risk appetite.
The benchmark Sensex ended the session at 85,567.48, rising 638.12 points, or 0.75 percent. The Nifty also posted similar gains, closing at 26,161.60, up 195.20 points, or 0.75 percent.
Market participants said the Nifty confirmed a technical breakout during the session. Analysts noted that the index moved above the 26,050–26,100 range, validating a double-bottom formation and reinforcing the prevailing upward trend.
“As long as the index holds above the 25,950–26,000 support band, the broader structure remains bullish,” analysts said, adding that a decisive close above 26,200 could open the way for further gains toward the 26,300–26,500 zone.
On the BSE, shares of Trent, Infosys and Bharti Airtel were among the top gainers, reflecting strong buying interest. In contrast, State Bank of India, Kotak Mahindra Bank and Larsen & Toubro ended the session lower and weighed on the index.
On the NSE, Trent, Shriram Finance and Wipro emerged as the top performers, while HDFC Life Insurance, Tata Consumer Products and State Bank of India were among the key laggards.
The broader market also participated in the rally. The Nifty SmallCap 100 index climbed 1.17 percent, while the Nifty MidCap 100 index advanced 0.84 percent.
Sectorally, information technology stocks led the gains, with the Nifty IT index rising 2.06 percent. Metal stocks also performed strongly, with the Nifty Metal index gaining 1.41 percent.
Consumer durables was the only sector to end in negative territory, with the Nifty Consumer Durables index slipping marginally by 0.16 percent.
Market analysts said equities closed firmly in positive territory, supported by sectoral strength and improving investor sentiment. However, they cautioned that uncertainty remains due to limited progress on trade negotiations, geopolitical tensions and volatility in crude oil prices. (Source: IANS)
