Sensex, Nifty Surge Higher; Snap Two-Day Losing Streak

Indian equity benchmarks advanced strongly on Monday, halting a two-day slide as sustained buying in banking counters buoyed overall sentiment.

A decisive late-session surge lifted the indices firmly into positive territory.

The 30-share Sensex climbed 650.39 points, or 0.79 per cent, to conclude at 83,277.15.

The broader Nifty gained 211.65 points, or 0.83 per cent, to settle at 25,682.75.

Market participants stepped up purchases in heavyweight financial stocks during the latter half of the session, driving the rebound.

Technical analysts maintained a constructive outlook for the Nifty, provided it holds above the 25,500-25,400 support band.

They identified immediate resistance within the 25,700-25,800 corridor. A clear breakout beyond this threshold could propel the index towards the 25,900-26,000 range, reinforcing upward momentum.

Banking and financial shares spearheaded the recovery. Among Sensex constituents, Power Grid, HDFC Bank, Axis Bank, NTPC, ITC and Asian Paints led gains, rising by as much as 4.5 per cent.

Investors rotated funds into defensives and rate-sensitive counters, strengthening the broader indices.

Conversely, select stocks ended in negative territory. Tech Mahindra, Maruti Suzuki, Bajaj Finance, M&M and Trent declined by up to 1.3 per cent, reflecting sector-specific selling pressure.

Capital market-linked companies faced pronounced declines after the Reserve Bank of India revised norms governing exposure to capital markets.

Shares of BSE, Angel One and MCX fell as much as 10 per cent intraday, as investors assessed the regulatory implications.

In the wider market, the Nifty MidCap index advanced 0.48 per cent, while the Nifty SmallCap index edged higher by 0.11 per cent.

Sectorally, real estate, PSU banks, private lenders and pharmaceutical counters attracted robust buying. However, automobile and metal stocks remained subdued.

Despite global headwinds and regulatory adjustments, domestic institutional inflows into banking shares underpinned the recovery.

Meanwhile, the rupee traded largely unchanged near 90.62 against the US dollar.

Traders adopted a cautious approach. Improved sentiment in the secondary equity market stabilised the currency after a weak opening.

Analysts placed immediate resistance at 90.25 and support at 90.90, signalling a near-term range-bound outlook.

Also Read: Sensex, Nifty Trade Nearly Flat; IT Index Slips 0.5 Pc