Indian benchmark indices opened the week on a strong note on Monday, with the S&P BSE Sensex rising as much as 396 points and the Nifty 50 index crossing above 23,700 as of the latest trading session. According to Upstox Securities, the recovery was powered by significant gains in information technology heavyweights including Infosys, Tata Consultancy Services, HCL Technologies, and Tech Mahindra. The previous session had seen the Sensex closing 77 points higher at 75,269.65 and the Nifty 50 ending flat at 23,604.55, with the current surge indicating a strong reversal from earlier bearish sentiment. The decline in the previous session was largely attributed to weak cues from broader Asian markets and escalating geopolitical uncertainties in the Middle East.
The Nifty IT Index emerged as the standout performer, advancing 2.04% to 28,283.25, marking its second consecutive session of gains with a 3.37% jump over two trading sessions. As reported by Business Standard, major IT stocks witnessed significant buying demand with Coforge leading gains at 4.4%, followed by Tech Mahindra up 4.11%, Persistent Systems rising 3.7%, and Oracle Financial Services Software advancing 3.16%. Other notable performers included Mphasis (up 3.09%), LTM (up 2.35%), Infosys (up 1.7%), Wipro (up 1.01%), and HCL Technologies (up 0.95%). The sector's strong performance helped offset weakness in other segments during the session, with the Sensex rising as much as 396 points powered by these IT heavyweights.
The Indian rupee faced significant pressure, edging lower to 96.2700 against the dollar compared to its previous close of 95.8100, and also touched an all-time intraday low of 96.3350 during the session. According to Business Standard, MCX Gold futures for June 2026 settlement rose 0.37% to ₹159,140, while the US Dollar Index declined 0.17% to 99.12. In the commodities market, Brent crude for July 2026 settlement rose 0.98 cents or 0.98% to $110.24 per barrel, and the United States 10-year bond yield declined 0.09% to 4.595. An analyst warned of a cautious near-term outlook, citing global factors and rising crude oil prices as key concerns.
Several major companies faced significant stock movements following their quarterly results. Bajaj Electricals tumbled 8.48% after reporting a net loss of ₹68 crore in Q4 FY26 compared to a net profit of ₹59 crore in Q4 FY25, with revenue from operations falling 2.1% year-on-year to ₹1,240 crore in the March 2026 quarter. As reported by Business Standard, Delhivery dropped 3.83% despite reporting a largely flat consolidated net profit of ₹72.39 crore for Q4 FY26, while revenue from operations increased 30.04% year-on-year to ₹2,849.99 crore.
