Indian equity markets extended their winning streak for the fourth consecutive session, supported by broad-based buying amid improving monsoon prospects, renewed FII inflows, easing geopolitical concerns, and softer crude oil prices.
After a positive opening, the benchmarks extended their gains through the session. Although some profit booking emerged during the afternoon, strong buying in the final hour helped the indices recover and close near the day's high.
At close, the Sensex was up 521.16 points or 0.67 percent at 78,285.07, and the Nifty was up 159.50 points or 0.66 percent at 24,430.35.
The broader indices performed inline with main indices Nifty midcap index rising 0.4% and smallcap index finishing higher by 0.7%
Biggest Nifty gainers are HDFC Bank, Hindalco Industries, ONGC, Bajaj Auto, M&M, while losers are Kotak Mahindra Bank, TCS, Max Healthcare, Bajaj Finserv and Coal India.
Sectoral performance remained broadly positive, with Realty emerging as the top gainer, rising 1.8%, followed by Consumer Durables (1.5%), Auto (1.3%), and Oil & Gas (1.1%). The Metal index advanced 1%, while Energy gained 0.7%. On the downside, Media was the worst-performing sector, declining 0.95%, followed by PSU Bank, down 0.9%, and IT, which slipped 0.6%.
Nearly 200 stocks touched their 52-week high on the BSE, including Cemindia Proj, HFCL, Radico Khaitan, Aegis Logistics, Adani Energy, Manappuram Fin, Anand Rathi, Chola Invest., IndusInd Bank, Granules India, Vardhman Text, Oberoi Realty, Honasa Consumer, AB Capital, Phoenix Mills, Adani Green Ene, AU Small Financ, CreditAccess Gr, L&T Finance, and Schneider Infra, among others. Click to View More
Among individual stocks, Granules India gained 2% after securing Sole First-to-File (FTF) status for its ANDA for Sodium Oxybate, while Diamond Power Infrastructure surged 10% after receiving a Rs 435.71 crore order to supply HT and LT power cables for the 310 MW HYD22-HYD26 Data Center Projects in Hyderabad.
Bandhan Bank rose 4% after reporting healthy Q1 business growth, while HDFC Bank advanced 3% as its Q1 advances and deposits grew 15.4% and 14.7% YoY, respectively. Shakti Pumps (India) climbed 4.7% after securing a Rs 354 crore solar pump contract from MSEDCL.
On the other hand, Kotak Mahindra Bank slipped 4% despite posting a strong operational update. In the broader market, Faalcon Concepts hit the 20% upper circuit after bagging a new work order worth Rs 101.93 crore, while DEV Information Technology gained 6% after receiving a Rs 73 crore work order from the Haryana State Electronics Development Corporation.
After Friday's recovery, the Indian rupee came under pressure once again, settling 18 paise lower at 95.40 against the US dollar on Monday, compared with the previous close of 95.22.