Indian equity markets began the week on a strong note on Monday, the BSE Sensex surged more than 900 points during intraday trade, while the NSE Nifty moved above the 23,950 mark, reflecting strong buying interest across sectors.
The rally was driven largely by banking, automobile and oil-related stocks, which witnessed significant buying throughout the session. Banking shares played a key role in lifting the indices, with HDFC Bank and ICICI Bank emerging among the top contributors to market gains. Investors also turned bullish on automobile counters, with Mahindra & Mahindra (M&M) recording strong gains and adding momentum to the broader market rise.
Oil and energy-related stocks also traded higher after a decline in global crude prices improved market sentiment. Lower crude oil prices are generally viewed as positive for India since the country imports a large share of its energy requirements. A reduction in oil prices can help ease inflationary pressure, lower import costs and support economic growth, factors that often improve investor confidence.
Public sector banking stocks and financial counters also remained in focus and contributed to the positive market breadth. Realty, media and select energy shares traded in positive territory as buying remained broad-based through the session.
However, some stocks failed to participate in the rally. Sun Pharma and Power Grid were among the major laggards and traded in the red as investors booked profits in a few defensive and utility stocks. Select IT and metal counters also witnessed pressure, limiting gains in the broader market.
Market analysts believe improving global sentiment and easing geopolitical concerns supported Monday’s rally. However, they continue to advise caution, noting that the Nifty’s movement near the 24,000 level will remain closely watched by investors.
The market’s next direction is expected to depend on global developments, foreign investor activity and sector-specific trends in the coming days.