Mumbai: Indian stock markets ended on a strong note on Monday, extending the gains seen in the previous session, even as global cues remained mixed.
Buying interest in information technology and metal stocks helped push the benchmark indices higher.
Positive sentiment was also supported by optimism around the signing of the India–New Zealand free trade agreement, which boosted investor confidence.
The Sensex closed at 85,567.48, rising by 638.12 points, or 0.75 per cent. Similarly, the Nifty settled at 26,161.60, up 195.20 points, marking a gain of 0.75 per cent.
“Nifty closed the session on a strong note after confirming a breakout above the 26,050–26,100 zone, validating a double-bottom pattern and reinforcing the ongoing daily uptrend,” experts said.
“As long as the index holds above the 25,950–26,000 support band, the broader structure remains bullish, with a decisive close above 26,200 opening the path toward 26,300–26,500,” they added.
On the BSE, shares of Trent, Infosys and Bharti Airtel were among the top gainers — reflecting strong buying interest in these stocks.
On the other hand, State Bank of India, Kotak Mahindra Bank and Larsen & Toubro weighed on the index and ended as the top laggards.
On the NSE, Trent, Shriram Finance and Wipro emerged as the top performers. Meanwhile, HDFC Life Insurance, Tata Consumer Products and State Bank of India were the major stocks that dragged the index lower.
The broader market also participated in the rally. The Nifty SmallCap 100 index jumped 1.17 per cent, while the Nifty MidCap 100 index gained 0.84 per cent.
Sector-wise, the IT sector was the biggest outperformer, with the Nifty IT index rising 2.06 per cent.
Metal stocks also saw strong gains, with the Nifty Metal index climbing 1.41 per cent.
In contrast, Nifty Consumer Durables was the only sector to end in the red, slipping marginally by 0.16 per cent.
Analysts said that the market closed firmly in positive territory, supported by sectoral strength and improving investor sentiment.
“However, caution persists amid limited progress on trade negotiations, geopolitical uncertainties, and crude price volatility,” market watchers stated.
(IANS)
