Indian equity benchmarks extended their winning streak to a fourth straight session on Monday, supported by robust buying in realty, auto, oil and gas stocks.
The Nifty ended 159.50 points, or 0.66 per cent, higher at 24,430.35, while the Sensex gained 521.16 points, or 0.67 per cent, to close at 78,285.07.
Among the Nifty constituents, HDFC Bank, Hindalco Industries and Oil and Natural Gas Corporation (ONGC) emerged as the top gainers, providing strong support to the benchmark indices.
The broader market also finished in positive territory, with the Nifty MidCap index rising 0.45 per cent and the Nifty SmallCap index outperforming with a gain of 0.75 per cent.
Sectoral indices largely closed in the green, led by the Nifty Realty index, which touched a six-month high. The Nifty Auto index climbed to its highest level in a month, while the Nifty Oil and Gas and Nifty Consumer Durables indices also recorded healthy gains.
Technical Outlook Remains Positive
Market experts said the 24,500-24,600 zone remains a key resistance area for the Nifty, with a decisive move above this range likely to confirm the continuation of the ongoing bullish trend. On the downside, 24,200 is expected to provide immediate support in the event of profit booking, followed by the crucial psychological level of 24,000.
Analysts noted that the rally reflected sustained buying across rate-sensitive and cyclical sectors. They also said improving investor confidence, supported by a decline in the India VIX, continued to strengthen market sentiment, with real estate, oil and gas, automobiles and consumer durables emerging as the day’s top-performing sectors.
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