Markets opened the week on a strong note, extending their winning streak for the fourth consecutive session as positive domestic cues and sustained foreign fund inflows lifted investor sentiment. The BSE Sensex surged more than 300 points in early trade, while the NSE Nifty climbed above the 24,300 mark, driven by broad-based buying in heavyweight stocks.
Banking and financial shares led the rally, with HDFC Bank emerging as one of the biggest gainers after reporting robust business updates for the June quarter. Reliance Industries, Bajaj Finance, Axis Bank and ICICI Bank also traded higher, providing strong support to the benchmark indices. The gains in these heavyweight stocks helped offset weakness in a few sectors and kept the broader market firmly in positive territory.
On the other hand, Trent, Kotak Mahindra Bank, Titan Company, Asian Paints and Sun Pharma featured among the top losers during the morning session, witnessing profit booking after recent gains. Despite the decline in these counters, buying in banking and select large-cap stocks ensured the market remained comfortably in the green.
Investor confidence was boosted by the revival of the southwest monsoon after a brief slowdown. Improved rainfall has eased concerns over agricultural output and rural demand, strengthening expectations of healthy economic activity in the coming months. Adding to the positive mood, foreign institutional investors (FIIs) continued to remain net buyers, reflecting renewed confidence in Indian equities.
Market experts believe the combination of improving monsoon conditions, resilient domestic fundamentals and steady foreign investment flows is supporting the ongoing rally. Expectations of healthy corporate earnings and stable macroeconomic indicators have also encouraged investors to increase exposure to equities.
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