Mumbai— Indian equity markets extended their winning streak for the fifth consecutive session on Monday, powered by strong gains in banking, IT, and auto stocks. Investor sentiment remained upbeat, driving benchmark indices to fresh highs.
The BSE Sensex surged 855.30 points, or 1.09%, to settle at 79,408.50, while the NSE Nifty jumped 273.90 points, or 1.15%, closing at 24,125.55.
Among the top performers on the Sensex were Tech Mahindra, IndusInd Bank, Power Grid Corporation, Bajaj Finserv, and Mahindra & Mahindra, with some stocks rallying as much as 4.91% during the session.
The markets have been on a robust upward trajectory, with the Sensex gaining 7.5%—or 5,562 points—in the last five trading sessions. During the same period, the Nifty has climbed 7.7%, adding 1,726 points.
Broader market indices outperformed the benchmarks. The Nifty Midcap 100 rose 2.50%, and the Nifty Smallcap 100 advanced 2.21%, reflecting strong interest across segments.
Banking stocks were the standout performers. The Bank Nifty index touched an all-time intraday high of 55,461.65 before closing at 55,304.50, up 1.87%. Top gainers in the sector included AU Small Finance Bank, IDFC First Bank, IndusInd Bank, and Federal Bank, which posted gains between 3.72% and 7.32%.
Sectoral indices echoed the bullish sentiment. Both Nifty Private Bank and PSU Bank indices closed over 2% higher. Other sectors also showed strength, with Nifty IT, Auto, Realty, and Oil & Gas indices all rising more than 2%. Nifty FMCG was the sole index to end slightly in the red.
Meanwhile, the Indian rupee started the week on a positive note, extending its winning streak to a fifth straight day.
“This upward momentum in the rupee was driven by a weakening U.S. dollar against major global currencies,” said Dilip Parmar, Senior Research Analyst at HDFC Securities. “Strong domestic equity performance, continued foreign investment inflows, and a drop in crude oil prices also supported the rupee’s appreciation.”
The rally reflects growing optimism around India’s economic outlook, strong corporate earnings expectations, and favorable global cues, setting a positive tone for the week ahead in domestic markets. (Source: IANS)
