MUMBAI– The Indian stock market posted solid gains on Monday, with the Sensex climbing 418 points, driven by strong buying in metal, IT, and construction stocks—even as concerns around U.S. tariffs linger.
The Sensex closed at 81,018.72, up 418.81 points or 0.52%. The 30-share index opened higher at 80,765.83, building on the previous session’s close of 80,599.91. Momentum picked up through the day, with the index hitting an intraday high of 81,093.19.
The Nifty also ended on a positive note, rising 157.40 points or 0.64% to close at 24,722.75.
Markets opened strong despite global uncertainty. “Sectoral performance was led by robust gains in Metals, Automobiles, Media, Construction, and IT, reflecting ongoing investor interest in growth-focused sectors,” Ashika Institutional Equities noted. Consumer Goods, Energy, and Financial Services stocks saw modest selling pressure.
Globally, weak U.S. employment data has fueled speculation that the Federal Reserve may consider a rate cut at its September meeting. This uncertainty has made investors more sensitive to upcoming policy decisions.
Top gainers on the Sensex included Tata Steel, Adani Ports, BEL, TCS, Tech Mahindra, Bharti Airtel, HCL Tech, Trent, Mahindra & Mahindra, Ultratech Cement, L&T, and Titan. On the downside, Power Grid, HDFC Bank, and ICICI Bank ended in the red.
Sector-wise, Nifty IT jumped 553 points (1.6%), while Nifty Auto climbed 376 points (1.61%). Nifty Bank and Nifty Financial Services closed flat after mixed trading.
The rally extended to broader markets. Nifty 100 gained 180 points (0.72%), Nifty Midcap 100 surged 795 points (1.4%), and Nifty Smallcap 100 rose 225 points (1.27%).
Ajit Mishra, Senior VP of Research at Religare Broking Ltd, noted that the markets began the week on a positive note with broad-based gains. “After recent corrections, midcap and smallcap indices finally showed some relief, both gaining nearly 1.5%.”
He cautioned that while the market has shown a tendency to rise early in the week, it often sees renewed selling pressure in the latter half. “Participants should avoid overinterpreting a single-day rebound and instead focus on the sustainability of the trend,” Mishra advised. (Source: IANS)
