The Sensex and Nifty indices made significant gains, nearly 1% each, on Monday, buoyed by a surge in Asian and European markets, along with a dip in Brent crude oil prices and increased foreign investor activity.
Continuing its upward trend from the previous session, the 30-share BSE Sensex soared by 560.29 points, or 0.77%, closing at 73,648.62. Throughout the day, it reached a peak of 679.47 points or 0.92% at 73,767.80.
Similarly, the NSE Nifty climbed by 189.40 points to 22,336.40.
Key gainers from the Sensex basket included Larsen & Toubro, Bajaj Finance, Axis Bank, State Bank of India, UltraTech Cement, Wipro, ICICI Bank, Infosys, HCL Technologies, and Asian Paints. Meanwhile, NTPC, JSW Steel, and HDFC Bank were among the laggards.
In the broader market, the BSE smallcap gauge rose by 1.26%, while the midcap index rallied by 0.93%.
Sector-wise, consumer durables led the charge with a 2.53% increase, followed by industrials (1.93%), capital goods (1.65%), telecommunication (1.17%), financial services (1.04%), and consumer discretionary (1.02%). Utilities, however, experienced a decline.
In global markets, positive trends were observed in Seoul, Tokyo, and Hong Kong, while Shanghai closed lower. European markets were also trading with gains, following a mixed performance on Wall Street last Friday.
Deepak Jasani, Head of Retail Research at HDFC Securities, said, "Global equities saw an upward trend on Monday, driven by reduced geopolitical tensions."
Although oil prices remain high, the market showed resilience amidst the fluctuating Middle East tensions.
Foreign Institutional Investors (FIIs) turned into net buyers on Friday, acquiring equities worth Rs 129.39 crore, according to exchange data.
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