Indian equity markets extended their winning streak for a fifth consecutive session on Monday, led by robust gains in IT and banking stocks. The benchmark indices, Sensex and Nifty, closed significantly higher, buoyed by strong performances from blue-chip stocks like hdfc bank and Infosys.
The BSE Sensex surged over 400 points to close above the 76,000 mark, while the NSE Nifty 50 climbed past 23,100, both notching fresh record highs. This consistent upward momentum reflects sustained investor optimism amid strong quarterly earnings and improving global cues.
Among the top contributors to the rally were HDFC Bank and Infosys, which saw significant buying interest. hdfc bank jumped over 2.5%, driven by better-than-expected quarterly numbers and optimism over credit growth. Infosys rebounded sharply after recent weakness, gaining nearly 3% as analysts turned positive on the sector’s outlook.
IT stocks rallied across the board, with TCS, Wipro, and Tech mahindra also posting healthy gains. The Nifty IT index ended over 1.8% higher, as easing concerns over U.S. macroeconomic conditions boosted sentiment.
Banking stocks remained in focus as well, with the Nifty Bank index climbing over 1.5%. ICICI bank, Axis bank, and mahindra BANK' target='_blank' title='kotak mahindra bank-Latest Updates, Photos, Videos are a click away, CLICK NOW'>kotak mahindra bank also contributed to the sectoral surge, supported by improved asset quality and strong credit demand.
On the broader market front, midcap and smallcap indices participated in the rally, indicating widespread market strength. Market breadth remained positive with advancing stocks outnumbering decliners.
Investor sentiment was also buoyed by stable global markets, a pullback in crude oil prices, and foreign institutional inflows, which have resumed after a brief pause.
Analysts remain cautiously optimistic, noting that while momentum is strong, upcoming earnings reports and global macro trends will be key to sustaining the rally.
In summary:
Sensex and Nifty rally for the 5th straight day.
HDFC bank and Infosys lead the gains.
IT and banking sectors outperform.
Market sentiment remains upbeat amid strong earnings and global cues.
Stay tuned for more updates as the earnings season continues to drive market direction.
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