Indian stock markets bounced back strongly on Monday, with the Sensex climbing more than 600 points and the Nifty moving above the 24,000 mark, as investors returned to equities after recent losses. Relief over easing tensions in the Middle East and hopes of stability in crude oil prices helped improve sentiment.
The BSE Sensex was trading above 77,100 during the session, while the NSE Nifty hovered around 24,050. Broader markets also joined the rally, with midcap and smallcap stocks posting healthy gains.
Buying was seen across several sectors, with pharma, IT and metal shares leading the recovery. Investors also picked quality stocks that had corrected sharply in recent sessions.
Among the biggest gainers, Sun Pharma jumped sharply after announcing a major overseas acquisition. The stock emerged as one of the top performers of the day. Infosys, Adani Ports, Mahindra & Mahindra, and Eternal also traded higher as buying momentum picked up across frontline counters.
However, not all stocks participated in the rally. Axis Bank remained under pressure after its recent quarterly earnings disappointed investors. Paytm also slipped as concerns around regulatory issues continued to weigh on sentiment. Shriram Finance and a few private banking names were also among the laggards.
Market experts said Monday’s rally was driven by a mix of bargain buying and improving global cues after last week’s volatility. Investors were encouraged by signs that geopolitical tensions may cool, reducing worries over a spike in oil prices.
Still, analysts warned that markets could remain sensitive in the near term. Crude oil prices are still elevated, and any sharp rise could impact inflation, the rupee and corporate margins in India.
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