The Indian stock market ended Monday’s session in the green, with broad-based buying across sectors, led by gains in auto and IT stocks. Benchmark indices registered gains for the second consecutive session, reflecting improved investor sentiment.
The BSE Sensex closed 455.37 points, or 0.56 per cent higher, at 82,176.45, while the NSE Nifty rose 148 points, or 0.60 per cent, to settle at 25,001.15.
Sectorally, Nifty Auto and Nifty IT indices led the rally with a gain of one per cent each. Positive movement was also seen in metal, realty, media, energy, commodities, and PSE stocks.
Midcap and smallcap indices continued their upward momentum. The Nifty Midcap 100 rose 379.50 points (0.67%) to 57,067.25, while the Nifty Smallcap 100 added 64.45 points (0.37%) to close at 17,707.80.
Global cues also played a role in the positive momentum. Market participants cited the US decision to consider extending the deadline for imposing higher tariffs on the European Union, along with a decline in the dollar index, as factors aiding domestic market recovery.
Vinod Nair, Head of Research at Geojit Financial Services, said, “The early onset of the southwest monsoon and easing bond yields have improved investor appetite for riskier assets. Broader markets outperformed on expectations of improved rural consumption and stronger Q4 GDP, supported by robust corporate earnings.”
On the currency front, the rupee appreciated by 24 paise to close at 85.09 against the US dollar, supported by a weaker dollar index, which fell to 98.93.
Jateen Trivedi of LKP Securities noted, “A series of key US economic data due this week, including Durable Goods Orders, FOMC Meeting Minutes, Q1 GDP, and the Core PCE Price Index, may keep USD-INR volatility elevated. The rupee is expected to trade within a range of 84.50 to 85.25 in the near term.”
-IANS