The Indian stock market witnessed a sharp rally on Monday, with the BSE Sensex jumping 1,073.61 points, or 1.42 per cent, to close at 76,488.96, while the NSE Nifty 50 surged 312.40 points, or 1.32 per cent, to settle at 24,031.70. According to reports from The Times of India, the rally was driven by easing geopolitical tensions in West Asia and falling crude oil prices that boosted investor sentiment globally. The market momentum came after optimism grew around a possible agreement between the United States and Iran, following remarks by US President Donald Trump over the weekend that a deal was 'largely negotiated'. As per HDFC Securities, the rally was broad-based, with 15 of 16 major sectoral indices ending in the green, extending gains for a second consecutive session. The Nifty 50 crossed the 24,000 mark in late-hour trade amid broad-based buying across sectors and strong participation from broader markets, with the index forming a bullish candle on the daily chart.
Eicher Motors emerged as the top Nifty 50 gainer, surging ₹433 to close at ₹7,414, representing a 6.20 per cent increase. As reported by The Times of India, Adani Enterprises followed with a 4.88 per cent gain to ₹2,850, while Bajaj Finance secured the third position with a 2.77 per cent rise to ₹941.90. Tata Motors Passenger Vehicles and L&T rounded out the top five gainers with 2.73 per cent and 2.72 per cent increases respectively. On the Sensex, Bajaj Finance led with a 2.77 per cent gain to ₹941.90, followed by L&T and HDFC Bank with 2.72 per cent and 2.62 per cent increases. According to HDFC Securities, auto shares participated in the rally as well, with Eicher Motors climbing after reporting better-than-expected quarterly earnings driven by strong Royal Enfield sales. Nearly 150 stocks touched their 52-week high on the BSE, including HFCL, Torrent Pharma, JB Chemicals, Angel One, Vodafone Idea, Polycab, Navin Fluorine, Manappuram Finance, Anand Rathi, KEI Industries, GE Vernova TD, Apollo Hospitals, Gland Pharma, Varun Beverages, Bajaj Auto, Timken, Hindalco Industries, among others.
Oil marketing companies emerged among the top sectoral gainers as lower crude prices improved hopes around marketing margins after recent fuel price hikes. As reported by HDFC Securities, shares of Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation rose sharply during the session as investors cheered the possibility of easing under-recoveries. The sharp decline in oil prices is viewed as highly supportive for India, one of the world's largest crude importers, as it helps ease concerns around inflation, fiscal pressures and import costs. Brent crude slipping below the $100-per-barrel mark following signs of progress in negotiations between the United States and Iran over reopening the Strait of Hormuz contributed significantly to the market rally. All the sectoral indices ended in the green with oil & gas, auto, PSU bank, Private bank, realty up 1-2%.
Banking stocks demonstrated strong performance during the rally, with HDFC Bank securing the fourth position among Nifty 50 gainers. According to The Times of India, Kotak Bank and Bajaj Finserv also featured prominently in the top gainers list. The banking sector's outperformance reflects investor confidence in the financial services sector amid the broader market rally. As per HDFC Securities, financial stocks also supported the rally, with heavyweight lenders such as HDFC Bank and ICICI Bank advancing strongly amid improving risk appetite and easing bond yields.
Despite the overall market rally, several stocks faced selling pressure. As reported by The Times of India, Max Healthcare declined ₹22.40 to ₹1,001, representing a 2.19 per cent drop, leading the Nifty 50 losers. ONGC followed with a 1.75 per cent decline to ₹284.95, while Hindalco and Nestle India also posted notable losses. In the Sensex, Infosys and TCS were among the top losers, with Infosys declining ₹6 to ₹1,169 and TCS falling ₹9.11 to ₹2,308. However, broader markets also remained firm, with the Nifty Midcap index rising 0.9% and the Nifty Smallcap index gaining 1.3%, reflecting widespread buying interest across sectors. The Indian rupee also strengthened sharply against the US dollar, ending 47 paise higher at 95.23 per US dollar compared with Friday's close of 95.70 per dollar, aided by falling oil prices and comments from the Reserve Bank of India indicating readiness to ensure orderly currency market conditions.
