The Indian stock market experienced a strong rally on Monday, with the Sensex climbing 454.11 points, or 0.59 percent, to close at 77,073.44. The Nifty also gained 141.55 points, or 0.61 percent, ending the day at 23,344.75. Kotak Mahindra Bank, Wipro, Bajaj Finance, NTPC, and Bajaj Finserv were among the top gainers on the Nifty.
On the other hand, SBI Life Insurance, Shriram Finance, Trent, HDFC Life, and Adani Ports were the losers. Most sectors ended in the green, with capital goods, PSU, telecom, power, and PSU banks rising by 1-2 percent. The BSE midcap and smallcap indices also performed well, gaining nearly 1 percent each.
However, the auto and FMCG sectors saw marginal declines.
sensex jumps as investors gain confidence
Ajit Mishra, SVP of Research at Religare Broking, noted that the markets began the week positively, driven by strength in heavyweight stocks, particularly in the banking sector.
Vinod Nair, Head of Research at Geojit Financial Services, attributed the market’s positive performance to strong sentiment from Asian markets and a robust set of earnings from the banking and financial sectors. However, he also mentioned that uncertainties surrounding Trump’s policies continue to linger. Amit Jain, Chairman and Managing Director of Arkade Developers, highlighted the potential of the Union Budget 2025 to address key challenges faced by the real estate sector.
He suggested measures such as reducing GST on luxury properties, increasing tax deductions on home loan interests, and reviving the Credit Linked Subsidy Scheme to drive sustainable growth in the sector. The rupee closed marginally higher at 86.56 per dollar on Monday, compared to Friday’s close of 86.61. In the IPO market, Stallion India Fluorochemicals’ IPO was subscribed 174.69 times, indicating strong investor interest.
Overall, the market activity demonstrated a positive trend, with investors remaining cautiously optimistic amid global uncertainties.
