Indian benchmark indices witnessed a spectacular rally on Monday, with the BSE Sensex surging 1,073.61 points or 1.42% to settle at 76,488.96, while the Nifty 50 reclaimed the crucial 24,000 mark, closing at 24,031.70, up 312.40 points or 1.32%. As per latest trading data, the Nifty 50 opened nearly 220 points higher and extended gains through the session to hit an intraday high of 24,054.45. The Bank Nifty index outperformed significantly, surging over 1,200 points or 2.29%, reflecting strong buying interest in banking and financial stocks. Market breadth remained firmly positive with 2,271 stocks advancing, 1,046 declining and 102 remaining unchanged out of 3,419 traded stocks on the NSE. A total of 122 stocks touched their 52-week highs during the session, while 163 stocks were locked in Upper Circuit and 91 hit Lower Circuit.
The sharp rally was primarily driven by Brent crude futures falling as much as 5% to USD 97.86 per barrel, with the May futures contract declining 5.49% to USD 97.86 per barrel. As reported by multiple sources, the decline in global oil prices was triggered by optimism surrounding a potential U.S.-Iran agreement that could ease geopolitical tensions and stabilise crude oil prices. U.S. President Donald Trump stated that negotiations with Iran were progressing constructively, with most parts of the agreement already negotiated and only final details remaining. However, Iranian media rejected claims that the Strait of Hormuz would be fully reopened under the proposed deal, reiterating that the strategic route would remain under Tehran's control. The Indian rupee appreciated for the third straight trading session, touching a two-week high amid declining crude oil prices and easing hedging costs, strengthening 0.59% to 95.11 against the U.S. dollar.
The Nifty PSU Bank index emerged as the top sectoral gainer, climbing 2.9% and extending gains for the fifth consecutive trading session, with all constituents ending higher. According to market reports, HDFC Bank rose 2.61% and ICICI Bank advanced 2.18%, while private banking heavyweights contributed significantly to benchmark gains. The Nifty Private Bank, Nifty Bank, and Financial Services indices also outperformed, supported by improved risk appetite among investors. Volatility also cooled sharply, with the India VIX index declining 6%, indicating reduced market uncertainty and improved investor confidence. The Nifty Midcap index advanced 0.94% and the Nifty Smallcap 100 index gained 1.34%, indicating strong buying interest beyond large-cap stocks.
Eicher Motors surged 6.19% after the automaker reported quarterly earnings ahead of market expectations, supported by robust demand trends. Among frontline stocks, Adani Enterprises and Tata Motors Passenger Vehicles emerged as top gainers on the Nifty 50 index. However, the Nifty FMCG index was the only sectoral loser, slipping 0.18% and extending its losing streak to six straight sessions. BPCL and HPCL gained between 3.5% and 4.5% after state-run fuel retailers increased petrol and diesel prices for the fourth time this month to offset previous losses. Oil marketing companies witnessed strong buying momentum amid the broader rally in energy stocks. Within the Food sector, SURAJ INDUSTRIES surged 13.5% and PRATAAP SNACKS gained 13.4%, while IB INFOTECH declined 89.5% and SUMUKA AGRO fell 7.8%.
Pine Labs declined 1.74% despite reporting a consolidated net profit of ₹59.36 crore in Q4 FY26 compared with a net loss of ₹28.91 crore in Q4 FY25. As reported by Business Standard, the company's revenue from operations climbed 17.02% YoY to ₹700.51 crore in Q4 FY26. Suzlon Energy added 2.23% after reporting a consolidated net profit of ₹1,114.35 crore in Q4 FY26, though this represented a 5.64% decline from the previous year, while revenue from operations increased 44.91% to ₹5,468.06 crore. Aditya Birla Fashion Retail declined 1.97% as the company's net loss widened to ₹148 crore in Q4 FY26 compared with a net loss of ₹16.87 crore in Q4 FY25, though revenue from operations climbed 15.74% YoY to ₹1,990.13 crore. For Monday's session, SAIL and Kaynes Technology India remain under the F&O ban list, while Foreign Institutional Investors (FIIs) sold equities worth ₹4,440.47 crore, and Domestic Institutional Investors (DIIs) bought shares worth ₹6,003.53 crore.
