The Indian stock market continued its winning streak on Monday, April 21, with both the Sensex and Nifty 50 rising sharply. This marked the fifth consecutive session of gains, signaling positive momentum across sectors and boosting investor confidence.
At the close of the session, the Sensex settled at 79,408.50, registering a jump of 855 points or 1.09 per cent. The Nifty 50 ended the day at 24,125.55, up by 274 points or 1.15 per cent. The rally was supported by broad-based buying despite mixed signals from global markets.
The gains weren't limited to the major indices alone. The BSE Midcap and Smallcap indices also saw strong movement, increasing by 2.20 per cent and 1.67 per cent respectively. As a result of this market rally, investors saw their wealth grow by nearly ₹6 lakh crore in just one session.
The total market capitalisation of companies listed on the Bombay Stock Exchange surged to ₹426 lakh crore, up from ₹420 lakh crore in the previous session.
This upward trend has been particularly impressive over the past five trading days. In this short period, the Sensex has risen by 5,561 points, or 7.5 per cent, while the Nifty 50 has added 1,726 points, or 7.7 per cent. The overall gain in investor wealth during this time stands at around ₹32 lakh crore, reflecting the market's strong bullish sentiment.
One of the key reasons for this ongoing surge is the optimism surrounding India’s economic performance. Experts believe that even with global uncertainties, India’s growth prospects remain robust.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, India is currently seen as the only major economy capable of maintaining a 6 per cent growth rate even amid a slowing global environment. A weakening dollar and expectations of improved relations with the US have also contributed to renewed foreign portfolio investor interest.
Among the top-performing stocks in the Nifty 50, Tech Mahindra, Trent, and IndusInd Bank stood out, registering significant gains. Meanwhile, shares of Adani Ports, HDFC Life, and ITC ended in the red, making them the day’s biggest losers in the index.
The banking sector showed notable strength, with the Nifty Bank index rising 1.87 per cent and hitting a new all-time high during the session. Financial services, public and private banking, auto, IT, realty, and oil and gas sectors also saw healthy gains of more than 2 per cent.
A large number of stocks showed positive trends throughout the day. As many as 115 companies, including heavyweights like HDFC Bank, ICICI Bank, and Bharti Airtel, touched their 52-week highs. However, 48 companies such as Dhruva Capital Services and Dalal Street Investments fell to their 52-week lows.
Several smaller stocks experienced massive price swings. Twenty-three stocks, including Liberty Shoes and Hindustan Motors, surged more than 15 per cent. On the other hand, 11 stocks dropped by over 10 per cent, reflecting the typical volatility in certain segments of the market.
The broader market mood was clearly positive. Out of over 4,200 stocks traded on the BSE, more than 2,900 advanced, while around 1,100 declined. Just over 160 stocks remained unchanged.
In terms of trading activity, Vodafone Idea emerged as the most actively traded stock with over 104 crore shares changing hands. YES Bank and Suzlon followed, with heavy volumes indicating continued interest from retail and institutional investors alike.
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