CHENNAI: Indian equity markets ended Monday’s session with steady gains, supported mainly by strong buying in IT stocks and positive global cues.
The Sensex closed at 81,635.91, up 329 points (0.40%), while the Nifty 50 settled at 24,967.75, higher by 97.65 points (0.39%).
The day’s rally was led by IT majors, with Infosys, TCS, HCL Technologies, and Tech Mahindra gaining between 2–3%. The Nifty IT index jumped over 2.4%, becoming the biggest driver of the market’s advance. Other sectors like realty and metals also saw moderate gains.
On the stock-specific front, Reliance Industries edged up 0.26%, while HDFC Bank ended almost flat, slipping 0.01%. Asian Paints lost 0.46%, though it fared better than some of its sector rivals.
Investor sentiment was lifted by comments from U.S. Federal Reserve Chair Jerome Powell, which boosted expectations of an interest rate cut in September. This global optimism particularly helped Indian IT exporters, who benefit from a stronger US outlook.
Analysts noted that the Nifty has strong support around 24,700, and if it sustains above 25,150, it could move toward 25,300–25,500 in the short term. They recommend a “buy-on-dips” approach, especially in banking, auto, IT, pharma, and consumer-focused stocks.
With a short trading week ahead—markets will remain closed on Wednesday for Ganesh Chaturthi—investors are expected to track global developments closely while keeping an eye on domestic flows.