The Indian stock market witnessed a strong rally on Monday, with the Sensex climbing 294 points to settle at 80,796.84, while the Nifty 50 rose 114 points to close at 24,461.15.
Market Overview
The broader market also saw positive momentum, with midcap and smallcap indices gaining over 1%. The rally was fueled by continued foreign fund inflows, declining crude oil prices, and strong corporate earnings.
Key Gainers and Losers
Among the top gainers, Adani Enterprises surged 7%, leading the rally in Adani Group stocks, including Adani Ports and Adani Power. Other notable gainers included Bajaj Finserv, Mahindra & Mahindra, ITC, Tata Motors, and Asian Paints.
On the downside, Kotak Mahindra Bank dropped 4.57% after reporting a 7.57% decline in consolidated net profit for the March quarter. State Bank of India, Axis Bank, Titan, and IndusInd Bank also ended in the red.
Global and Domestic Factors
The rally was supported by foreign institutional investors (FIIs), who purchased equities worth ₹2,769 crore on Friday. Additionally, record GST collections in April and a weak dollar contributed to the market’s optimism.
Meanwhile, global markets remained mixed, with US indices closing higher last week, backed by strong economic data and easing trade tensions between the US and China.
Outlook
Market analysts suggest that while optimism remains, the momentum is moderating, with sector-specific trends driving movements. Investors are expected to focus on corporate earnings, global cues, and policy developments in the coming weeks.
Stay tuned for further updates on the Indian stock market.
