Indian benchmark indices extended their winning streak for a fourth straight session on Monday, supported by strong buying in banking stocks and positive investor sentiment. The BSE Sensex climbed 521.16 points to close at 78,285.07, while the NSE Nifty50 gained 159.50 points to settle at 24,430.35, crossing the 24,400 mark for the first time in nearly 10 weeks.
Banking stocks led the rally after several private lenders reported healthy business updates for the April-June quarter. HDFC Bank, Axis Bank, IndusInd Bank and Bandhan Bank were among the top gainers after reporting steady loan and deposit growth. Realty and metal stocks also witnessed strong buying, adding to the market’s momentum.
On the other hand, Kotak Mahindra Bank emerged as one of the top losers after its quarterly business update fell short of market expectations. Information technology stocks also remained under pressure as investors stayed cautious ahead of the upcoming earnings season.
The broader market remained positive as easing crude oil prices, a favourable monsoon and renewed buying by foreign institutional investors (FIIs) boosted confidence. Analysts said these factors have improved expectations for inflation and economic growth, encouraging investors to increase their exposure to equities.
Among the sectoral indices, Bank Nifty outperformed the broader market, while the realty index also posted strong gains. Stocks such as Godrej Properties, Oberoi Realty and Lodha Developers advanced sharply during the session.
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