Indian stock markets kicked off the week with festive fervour, driven by strong domestic and global cues.
The Sensex climbed more than 650 points, while the Nifty breached the milestone of 25,900—a clear signal of investor optimism ahead of Diwali.
Banking and heavyweight stocks dominated the rally. Early sessions saw significant buying in names such as Kotak Mahindra Bank, Axis Bank and HDFC Bank, each rising by as much as 3 per cent.
In contrast, some selective profit‑booking occurred in stocks like ICICI Bank, which slipped 2.2 per cent.
Midcaps and Smallcaps Also Participate
Beyond the benchmarks, the broader market joined the up‑move.
The Nifty MidCap index gained around 0.66 per cent, and the Nifty SmallCap index added approximately 0.19 per cent, signalling participation across market segments.
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) continued their buying streak—key support for the rally.
While FIIs extended purchases, DIIs cumulatively injected over ₹1,500 crore in equities recently, bolstering market sentiment.
What Traders Are Watching
Analysts noted that while the broader market tone remains cautiously bullish, traders should exercise prudence.
Fresh long positions may be considered if the Nifty holds above the 26,000 mark.
Close monitoring of global cues and key technical levels remains essential given heightened volatility.
While the early momentum is encouraging, market watchers point out that the rally enters a period of reduced trading days and potential profit‑taking.
Hence, managing risk through partial profit booking and tight trailing stop‑losses may be prudent.
Also Read: Government Extends GSTR-3B Filing Deadline By Five Days Owing To Festive Season
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