Sensex and Nifty: Despite conflicting global indications, Indian stock markets closed Monday on a high note, building on gains from the previous session.
The benchmark indexes increased as a result of buying activity in metal and IT equities.
Optimism around the signing of the free trade deal between India and New Zealand also contributed to the positive atmosphere by boosting investor confidence.
The Sensex increased by 638.12 points, or 0.75 percent, to settle at 85,567.48. In a similar vein, the Nifty closed at 26,161.60, up 195.20 points, or 0.75 percent.
“After confirming a breakout above the 26,050–26,100 zone, validating a double-bottom pattern, and reinforcing the ongoing daily uptrend, the Nifty ended the session on a strong note,” analysts added.
“The broader structure remains bullish as long as the index holds above the 25,950–26,000 support band, with a decisive close above 26,200 opening the path toward 26,300–26,500,” they said.
Shares of Bharti Airtel, Infosys, and Trent were among the top gainers on the BSE, indicating high demand for these equities.
State Bank of India, Kotak Mahindra Bank, and Larsen & Toubro, on the other hand, were the index’s biggest laggards.
Trent, Shriram Finance, and Wipro were the biggest performers on the NSE. State Bank of India, Tata Consumer Products, and HDFC Life Insurance were the main companies that caused the index to decline.
The upswing also included the wider market. The Nifty MidCap 100 index increased by 0.84 percent, while the Nifty SmallCap 100 index increased by 1.17 percent.
The Nifty IT index increased 2.06%, making the IT sector the most outperformer by sector.
Strong increases were also seen in metal equities, as seen by the 1.41 percent increase in the Nifty Metal index.
The only industry to finish in the negative, however, was Nifty Consumer Durables, which fell by only 0.16 percent.
According to analysts, industry strength and rising investor mood helped the market finish solidly in positive territory.
Market observers said that “caution persists amid limited progress on trade negotiations, geopolitical uncertainties, and crude price volatility.”
