Mumbai’s stock market closed with significant gains on Monday, fueled by optimism surrounding a landmark India-US trade agreement. The BSE Sensex climbed 485.35 points, or 0.58%, to settle at 84,065.75, while the Nifty 50 advanced 173.60 points, or 0.68%, ending at 25,867.30.
Almost every sector painted a green picture at the close. Consumer durables, PSU banks, realty, defence, metals, pharma, and healthcare indices all posted strong performances. This broad-based rally reflected investor confidence across the board.
Top performers in the Sensex pack included State Bank of India, Titan, Tata Steel, UltraTech Cement, Eternal, BEL, Kotak Mahindra Bank, Trent, IndiGo, M&M, L&T, Adani Ports, and Asian Paints. These stocks led the charge, showcasing resilience in key economic sectors.
On the flip side, Power Grid, ITC, NTPC, ICICI Bank, Infosys, HDFC Bank, Tech Mahindra, and Maruti Suzuki faced selling pressure, emerging as the day’s notable losers.
The primary catalyst for this upswing was a joint statement on the India-US trade deal released Sunday morning. It announced a sharp reduction in US tariffs on Indian exports from 50% to 18%, with duties eliminated entirely on several goods. This development is poised to supercharge Indian exports and bolster economic ties between the two nations.
Midcap and smallcap segments mirrored the bullish sentiment. The Nifty Midcap 100 index rose 938.45 points, or 1.58%, to 60,441.15, and the Nifty Smallcap 100 gained 447.25 points, or 2.64%, closing at 17,385.90.
Sudeep Shah, Chief of Technical and Derivatives Research at SBI Securities, noted that the market opened strongly but saw an early dip before stabilizing in a narrow range. ‘Nifty closed at 25,867,’ he said. ‘Resistance lies between 25,970 and 26,000. A breakout could propel it to 26,200-26,400. Support is at 25,780-25,750.’
As global trade tensions ease, Indian markets are entering a promising phase. Investors will watch upcoming data and policy moves closely for sustained momentum.