Mumbai– Indian equity markets posted strong gains on Monday, defying rising geopolitical tensions between Israel and Iran as investors remained focused on long-term fundamentals and corporate resilience.
The benchmark BSE Sensex surged 677.55 points, or 0.84%, to close at 81,796.15, after briefly touching an intraday high of 81,865.82. The NSE Nifty also rose sharply, gaining 227.9 points, or 0.92%, to settle at 24,946.50.
The rally signaled investor confidence in the Indian market’s stability amid global volatility. All sectoral indices ended in the green, led by strong buying in technology, realty, and oil & gas stocks.
“The index witnessed a sharp rally as it reclaimed the 21-day exponential moving average after a brief dip,” said Rupak De, Senior Technical Analyst at LKP Securities. “While a major directional move may not occur immediately, Nifty reclaiming the 25,000 mark could trigger a rally toward 25,350. On the downside, support remains at 24,850.”
Broader markets also performed well. The Nifty Midcap100 rose 0.93%, and the Nifty Smallcap100 climbed 0.95%, showing widespread investor participation across market segments.
Among sectoral indices, Nifty IT was the top performer, rising 1.57%, followed by Realty (1.32%), Oil & Gas (1.11%), and Metal (1.07%). Banking, FMCG, energy, pharma, and media sectors also saw healthy gains, reflecting broad-based buying.
Top gainers on the Sensex included Ultratech Cement, Tech Mahindra, HCL Tech, TCS, Kotak Mahindra Bank, and Infosys — some posting gains of up to 2.4%. On the downside, Tata Motors was the biggest laggard, slipping 3.76%, while Sun Pharma also ended in the red.
Market volatility also showed signs of easing. The India VIX — often referred to as the market’s “fear index” — declined by 1.6% to 14.83, suggesting a calmer short-term outlook.
Vinod Nair, Head of Research at Geojit Financial Services, noted that large-cap stocks helped propel the market upward despite heightened tensions in the Middle East.
“Geopolitical developments between Israel and Iran will continue to influence sentiment in the near term,” Nair said. “Any signs of de-escalation will be closely watched. Small-cap stocks may underperform in the short run due to rich valuations and limited short-term catalysts.” (Source: IANS)
