In Mumbai, benchmark equity indices BSE Sensex and NSE Nifty 50 rebounded on Monday, rising nearly 1 per cent and snapping a three-session losing streak, supported by gains in heavyweight stocks and positive global cues.
The 30-share Sensex climbed 639.42 points, or 0.83 per cent, to close at 77,303.63. During intraday trade, it had surged as much as 755.83 points, or 0.98 per cent, to touch 77,420.04. Similarly, the 50-share Nifty advanced 194.75 points, or 0.81 per cent, to settle at 24,092.70.
Among Sensex constituents, Sun Pharmaceutical Industries emerged as the top gainer, rallying 7 per cent after announcing the acquisition of US-based Organon & Co in an all-cash deal valued at USD 11.75 billion—one of the largest overseas acquisitions by an Indian firm. Reliance Industries also gained 2.88 per cent, while Adani Ports, Tech Mahindra, Mahindra & Mahindra, NTPC, HCL Technologies and Tata Consultancy Services were also among the major gainers. On the downside, Axis Bank, Bharat Electronics, Trent and ICICI Bank ended lower among the blue-chip stocks.
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Market experts attributed the rally to a recovery in previously beaten-down heavyweights, particularly Reliance, along with optimism in the pharmaceutical sector following major global acquisition developments. Positive global sentiment—partly driven by expectations of progress in US-Iran negotiations—also supported investor confidence, even as crude oil prices remained elevated.
Broader markets mirrored the upbeat trend, with the BSE SmallCap Select index rising 2 per cent and the MidCap Select index gaining 1.35 per cent. All sectoral indices closed in the green, led by Utilities (up 2.50 per cent), followed by Healthcare (2.43 per cent), Focused IT (2.41 per cent), Realty (2.35 per cent), IT (2.20 per cent), Power (2.05 per cent), and Services (1.92 per cent).
Market breadth remained positive, with 3,075 stocks advancing, 1,288 declining, and 193 remaining unchanged on the BSE. Across Asia, indices such as South Korea’s Kospi, Japan’s Nikkei 225, and China’s SSE Composite ended higher, while Hong Kong’s Hang Seng closed lower. European markets were also trading in positive territory, and US markets had ended mostly higher on Friday.
Analysts noted that easing geopolitical tensions, particularly signs of possible de-escalation between the US and Iran around the Strait of Hormuz, boosted global risk appetite and helped stabilise domestic equities. Sectoral participation, especially from pharmaceuticals and IT, played a key role in sustaining the rally.
Meanwhile, Brent crude was trading 2.53 per cent higher at USD 107.9 per barrel, reflecting ongoing concerns in energy markets. Despite the rebound, analysts cautioned that Indian equities remain sensitive to global geopolitical developments. Foreign Institutional Investors (FIIs) had sold equities worth Rs 8,827.87 crore on Friday, according to exchange data.
In the previous session, the Sensex had dropped 999.79 points, or 1.29 per cent, to close at 76,664.21, while the Nifty declined 275.10 points, or 1.14 per cent, to end at 23,897.95, making Monday’s gains a notable recovery from recent losses.
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