Indian stock markets continued their winning streak for the sixth consecutive session on Monday, with both Sensex and Nifty registering strong gains.
Investor sentiment remained upbeat as key indices surged over 1 per cent each during intra-day trade. The 30-share BSE Sensex climbed 1,078.87 points, or 1.40 per cent, to settle at 77,984.38. It touched an intra-day high of 78,107.23.
Similarly, the NSE Nifty ended 307.95 points higher, or 1.32 per cent, at 23,658.35, after hitting an intra-day peak of 23,708.75.
The market rally was broad-based, with 24 out of 30 Sensex stocks closing in the green. NTPC, Kotak Mahindra Bank, SBI, Tech Mahindra, and Power Grid Corporation were among the top gainers, rising up to 4.63 per cent.
Meanwhile, Nestle India, Bharti Airtel, Mahindra & Mahindra, Zomato, IndusInd Bank, and Titan saw marginal losses, falling up to 2.73 per cent.
The broader market also saw positive traction, as the Nifty Midcap100 and Smallcap100 indices gained over 1 per cent each.
Banking stocks led the rally, with PSU banks outperforming. The Nifty PSU Bank index surged 3.18 per cent, while Bank Nifty and the Nifty Private Bank index also advanced over 2 per cent.
Sectors such as capital goods, oil & gas, power, realty, and telecom posted gains between 1-2 per cent. Except for the Nifty Media index, all sectoral indices on the NSE closed in positive territory.
“With every sector closing positively and banking stocks leading the charge, the market’s bullish momentum remains intact,” said Sundar Kewat of Ashika Institutional Equity.
He added, “Investors are now awaiting further cues to assess if this rally has more steam left.”
On Friday, foreign institutional investors (FIIs) recorded a net inflow of ₹7,470 crore, bolstering market confidence. FIIs also increased their long positions in index futures, with the long-short ratio improving to 31.8 per cent, signaling a gradual shift towards optimism — a key factor supporting today’s rally.
The Indian rupee also showed strength, appreciating by 34 paise to close at 85.63 per US dollar, compared to Friday’s close of 85.97.
According to Vinit Bolinjkar, Head of Research at Ventura Securities, the rupee’s gains are backed by favourable domestic factors and supportive RBI policies.