Indian benchmark equity indices extended their winning streak to a fourth consecutive session on Monday, supported by improved investor sentiment following a sharp decline in crude oil prices amid reports of potential talks between the United States and Iran.
The Sensex climbed 544.39 points, or 0.7 per cent, to close at 78,639.03, while the Nifty surged 391 points, or 1.6 per cent, to settle at 24,774.30, following the introduction of the new Closing Auction Session (CAS).
Market experts said the 24,600 level has emerged as an immediate resistance zone for the Nifty, with a sustained breakout potentially opening the path towards 24,800.
On the downside, the 24,500–24,400 range will likely act as key support, while a breach below 24,400 could trigger short-term profit booking towards the 24,300–24,200 zone.
Heavyweight stocks attracted strong buying, with InterGlobe Aviation, Infosys and Tata Consultancy Services emerging among the top gainers on the Nifty.
Gains in information technology stocks played a key role in lifting the broader market.
The positive momentum extended to the broader indices, with the Nifty Mid Cap rising 1.21 per cent and the Nifty Small Cap advancing 1.29 per cent.
Among sectoral indices, Nifty IT, Nifty FMCG and Nifty PSU Bank led the gains, while the Nifty Media index ended the session in the red.
Analysts attributed the market’s bullish sentiment largely to easing concerns over crude oil prices. They also noted that the Q1FY27 earnings season has progressed ahead of expectations, with small-cap companies outperforming large- and mid-cap peers.
Investors will now closely watch the upcoming RBI monetary policy meeting for guidance on inflation, liquidity conditions and the future policy outlook, although interest rates are widely expected to remain unchanged.
Also Read: Stock Market Today: Sensex Opens 800 Points Higher, Nifty Nears 24,600
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