The Indian stock market witnessed significant gains on Monday, with the BSE Sensex surging 1,064 points or 1.41% to 76,479.49 and the Nifty 50 index zooming 311 points or 1.31% to 24,030.55 as of 3:11 PM. According to reports from The Times of India, the broader market also participated in the rally, with the BSE 150 MidCap Index jumping 1.02% and the BSE 250 SmallCap Index gaining 0.80%. Market breadth remained strong with 2,832 shares rising and 1,294 shares falling on the BSE, while 233 shares remained unchanged. The Nifty's Advance Decline Ratio stands at 43:7, indicating strong buying momentum across the market.
The Nifty Auto index jumped 1.58% to 26,427.40, extending gains for the fifth consecutive trading session with a total rally of 3.13% over this period. As reported by Business Standard, Eicher Motors led the gains with a 5.35% increase, followed by Ashok Leyland at 3.38%, Bharat Forge at 2.34%, and Tata Motors Passenger Vehicles at 2.08%. Other notable performers included Mahindra & Mahindra at 1.97%, Unominda at 1.94%, Tube Investments of India at 1.74%, Bosch at 1.36%, and Maruti Suzuki India at 1.22%. Only Bajaj Auto declined by 0.75% and Samvardhana Motherson International fell 0.24%.
Brent crude futures declined by $4.71, or 4.55%, to trade at $98.83 per barrel by 2234 GMT, while US West Texas Intermediate crude fell $4.57, or 4.73%, to $92.03 per barrel. According to The Times of India, both benchmark contracts earlier touched their weakest levels since May 7. The decline in oil prices was driven by expectations of a potential US-Iran peace agreement, with US President Donald Trump stating on Saturday that Washington and Iran had "largely negotiated" a memorandum of understanding related to a peace agreement that could eventually reopen the Strait of Hormuz. However, Trump also said on Sunday that he had instructed his representatives not to rush into finalising any agreement with Iran, limiting overall optimism despite the positive developments.
According to market analysts, support for Nifty is placed around the 23,850-23,870 zone while resistance lies in the 24,100-24,120 range. As reported by The Times of India, in an event of a surge above 24,120, the index can experience an extension of the rally towards 24,320. On the options front, meaningful call writing witnessed across 24,000 & 24,100 strikes, while 23,900 has substantial open interest on the put side. The NSE's India VIX fell 5.09% to 17, indicating reduced market volatility expectations. For Sensex, support is at 75,900 while resistance is at 76,700, with the index showing strong momentum above recent levels.
Several companies reported their Q4 FY26 results, with mixed performance across sectors. According to Business Standard, JK Cement shed 0.83% after reporting a 7.61% year-on-year decline in consolidated net profit to ₹332.91 crore for Q4 FY26, compared with ₹360.36 crore in the same period last year. However, the company's revenue from operations grew 8.55% to ₹3,887.50 crore during Q4 FY26. Studds Accessories rose 1.30% after reporting a 6.08% rise in consolidated net profit to ₹21.09 crore on an 11.88% increase in revenue from operations to ₹167.54 crore in Q4 FY26 over Q4 FY5. NTPC Green Energy lost 2.73% after reporting a 15.5% YoY decline in consolidated net profit to ₹197.05 crore in Q4 FY26 compared with ₹233.22 crore in the same quarter last year, though revenue from operations jumped 46.7% YoY to ₹912.63 crore.
