Mumbai’s stock market turned heads on Monday with a spectacular rally that saw the Sensex soar by 943.52 points, or 1.17%, closing at 81,666.46. The Nifty too joined the party, climbing 262.95 points or 1.06% to settle at 25,088.40. This robust performance came after a choppy start, underscoring the market’s resilience amid mixed global cues.
Infrastructure and auto sectors led the charge, with Nifty Infra jumping 2.26% and Nifty Auto gaining 2.13%. Other strong performers included Nifty PSE and Oil & Gas at 2.04% each, Nifty Metal up 1.88%, and Nifty Commodities rising 1.87%. In contrast, IT and healthcare sectors showed mild weakness, with Nifty IT down 0.47% and Nifty Healthcare slipping 0.08%.
The bullish momentum spread across market caps. Nifty Midcap 100 advanced 546.80 points or 0.96% to 57,667.60, while Nifty Smallcap 100 rose 105.20 points or 0.64% to 16,523.35. Among Sensex constituents, Power Grid, Adani Ports, BEL, M&M, L&T, Indigo, UltraTech Cement, Asian Paints, ITC, Bajaj Finserv, Tata Steel, NTPC, ICICI Bank, and Maruti Suzuki emerged as top gainers.
Losers were limited, with Axis Bank, Infosys, TCS, Trent, Titan, and Kotak Mahindra Bank posting declines. Rupak De, Senior Technical Analyst at LKP Securities, noted the strong bounce after recent sharp falls but cautioned that the broader trend remains weak, with the index still below its 200-day moving average.
“Any upside should be used to reduce leverage and build short positions,” De advised. For Nifty, resistance lies at 25,200, with support around 24,900. Markets opened in the red—Sensex at 80,555.68 (down 0.21%) and Nifty at 24,796.50 (down 0.12%)—but flipped green within minutes, defying initial pessimism and setting a positive tone for the week.