Mumbai— Indian equity markets opened the week on a strong note, with the Bank Nifty hitting a new all-time high of 57,000 on Monday, signaling continued investor confidence in the banking sector.
The benchmark Sensex rose 256.22 points, or 0.31 percent, to close at 82,445.21, while the Nifty gained 100.15 points, or 0.40 percent, ending the session at 25,103.20.
Midcap and smallcap stocks outperformed largecaps. The Nifty Midcap 100 jumped 664.65 points (1.13 percent) to 59,674.95, and the Nifty Smallcap 100 added 290.95 points (1.57 percent), closing at 18,873.40.
Sectorally, auto, IT, PSU banks, financial services, pharma, metals, and media posted gains. The realty index was the only sector to finish in the red.
Top gainers on the Sensex included Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid, IndusInd Bank, Maruti Suzuki, Bajaj Finserv, NTPC, TCS, and Tata Motors. On the flip side, Zomato, ICICI Bank, Titan, M&M, and Tata Steel were among the top losers.
Financial stocks led the rally, bolstered by the Reserve Bank of India’s recent rate and CRR cuts. “These actions have boosted investor confidence and are expected to enhance liquidity in the near to medium term, especially in midcaps,” said Vinod Nair, Head of Research at Geojit Financial Services. He also noted that upbeat U.S. jobs data and renewed optimism over U.S.-China trade talks lifted global sentiment.
Bank Nifty surged to a record high of 57,049, breaking out from a month-long consolidation pattern. “This breakout clears the congestion zone with conviction,” said Om Mehra of Samco Securities.
Analysts noted the index remains strong above all key moving averages, with the daily Relative Strength Index (RSI) at 69 and the weekly RSI at 68—both in bullish territory but not yet overbought. A bullish RSI divergence further reinforced the positive outlook. (Source: IANS)
