Benchmark equity indices Sensex and Nifty extended their gains for the second straight session on Monday, driven by robust buying across all segments after India and the US reached a trade deal, putting an end to tariff uncertainties.
The 30-share BSE Sensex jumped 485.35 points, or 0.58 per cent, to close at 84,065.75. During the day, the benchmark surged 734.28 points, or 0.87 per cent, to hit an intraday high of 84,314.68. The 50-share NSE Nifty appreciated by 173.60 points, or 0.68 per cent, to settle at 25,867.30. During the session, the index climbed 228.55 points, or 0.88 per cent, to hit a high of 25,922.25.
Among the 30-share constituents, State Bank of India, Titan, UltraTech Cement, Tata Steel, Eternal, Bharat Electronics Ltd, Kotak Mahindra Bank, IndiGo, Trent, Mahindra & Mahindra, Larsen & Toubro, Sun Pharmaceuticals and Asian Paints were the gainers. On the other hand, PowerGrid, NTPC, ITC, ICICI Bank, Infosys, HDFC Bank, Tech Mahindra, Maruti Suzuki India and Axis Bank were the laggards.
Positive signals from the trade deal, coupled with the return of FIIs, fuelled a risk-on sentiment in the market. Investors are closely watching upcoming results, with PSU banks delivering stronger-than-anticipated performance, helping the PSU bank index outperform.
An accumulation strategy was observed in consumer durables and real estate stocks following the recent correction, driven by expectations of a demand revival. The recovery was broad-based with sectors like cement, capital goods, textiles and consumer discretionary attracting investor interest, supported by Union budget proposals and favourable trade deals.
On the BSE, the Smallcap Select index rose 2.31 per cent, while Midcap Select index went up 1.27 per cent. Among sectoral indices, PSU Bank climbed the most by 2.83 per cent, followed by Consumer Durables (2.76 per cent), Realty (2.64 per cent), and Commodities (2.06 per cent). While Industrials and Telecommunication rose by 1.94 per cent each, Capital Goods increased 1.89 per cent, Consumer Discretionary gained 1.73 per cent, and Metal went up by 1.54 per cent.
Buying interest was widespread with realty, metal and pharma among the top gainers, while midcap and smallcap segments also posted notable advances, signalling an improvement in risk appetite after the recent bout of weakness. A total of 3,110 stocks advanced, while 1,254 declined and 163 remained unchanged on the BSE. Foreign institutional investors (FIIs) bought equities worth Rs 1,950.77 crore on Friday, according to exchange data.
Also read: Reliance leads ₹4.55 lakh crore mcap surge
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