CHENNAI: Indian equity benchmarks extended their winning streak to the fourth consecutive session on Monday, buoyed by positive global cues, robust domestic economic indicators, and supportive monetary policy measures.
The BSE Sensex closed at 82,445.21, up 256.22 points or 0.31%, while the NSE Nifty 50 ended at 25,103.20, gaining 100.15 points or 0.4% .
Key Drivers
Global Sentiment: Investor optimism was fueled by strong U.S. jobs data and progress in U.S.-India trade negotiations, particularly ahead of upcoming talks in London RBI Policy Measures: The Reserve Bank of India (RBI) implemented a larger-than-expected 50 basis point repo rate cut and a 100 basis point reduction in the cash reserve ratio, injecting liquidity into the banking system and boosting investor confidence .
Sectoral Performance: All major sectoral indices, except Realty, closed higher. The Nifty PSU Bank index emerged as the top gainer, rising 1.52%, driven by strong performances from public sector banks .
Sectoral Highlights
Nifty PSU Bank: The index surged 1.52%, led by gains in Bank of India, Bank of Maharashtra, Indian Bank, Indian Overseas Bank, Punjab National Bank, Canara Bank, Punjab & Sind Bank, and Union Bank of India .
Other Gaining Sectors: Nifty Oil & Gas, Private Banks, IT, and Energy sectors each rose over 1%, reflecting broad-based buying interest across the market .
Lagging Sector: The Realty sector was the sole underperformer, closing in the red amid profit-taking in real estate stocks.
Broader Market Performance
Midcap and Smallcap Indices: The Nifty Midcap 100 and Nifty Smallcap 100 indices gained 1.13% and 1.57%, respectively, indicating strong participation from mid and small-cap stocks .
Market Breadth: Market breadth remained positive, with a majority of stocks advancing, reflecting broad-based investor confidence.
Volatility and Investor Sentiment
India VIX: The India VIX, a gauge of market volatility, rose 0.43% to settle at 14.69, indicating a slight uptick in investor apprehension amid the ongoing market rally .