Mumbai– Indian equity benchmarks closed higher on Monday, ending a three-session losing streak, as buying in IT, auto and select banking stocks lifted market sentiment. Optimism around a potential resolution to the U.S. government shutdown also supported the rebound.
The Sensex finished at 83,535.35, up 319 points or 0.38 per cent. The index opened nearly flat at 83,198.20, compared to the previous close of 83,216.28, but climbed sharply during the session to an intraday high of 83,754.49 amid strong gains in technology and automobile majors.
The Nifty also advanced, closing at 25,574.35, up 82 points or 0.32 per cent.
“The potential resolution of the U.S. government shutdown, along with renewed FII buying driven by a favourable Q2 earnings season, supported positive sentiment. The rise in the U.S. 10-year Treasury yield reflects improving risk appetite for equities as the federal government moves toward reopening,” said Vinod Nair, Head of Research at Geojit Financial Services.
He added that domestic macroeconomic indicators remain supportive and may lead to upward revisions in earnings estimates for the second half of FY26.
Among Sensex constituents, Infosys, HCL Tech, Asian Paints, Tata Motors Passenger Vehicles, TCS, Bharti Airtel, Titan, L&T, Tech Mahindra and Maruti Suzuki were the top gainers. Trent, PowerGrid, UltraTech Cement, Mahindra & Mahindra and Axis Bank ended lower.
Most sectoral indices closed in the green, aided by value buying. Nifty IT gained 1.62 per cent, Nifty Auto added 0.30 per cent, Nifty Financial Services rose 0.24 per cent and Nifty Bank inched up 0.10 per cent. FMCG stocks lagged and closed lower.
Broader market indices also moved higher. Nifty Midcap 100 rose 0.47 per cent, Nifty Small Cap 100 was up 0.35 per cent, and Nifty 100 gained 0.33 per cent.
Meanwhile, the rupee traded largely unchanged near 88.66. Weakness in the dollar index was offset by continued foreign portfolio outflows.
“Likely RBI intervention near the 88.75–88.90 range helped limit further weakness, keeping the rupee in a narrow band. Market attention now turns to CPI data releases from both the U.S. and India, which may influence short-term direction. The rupee is expected to trade between 88.45 and 88.90 with mild volatility,” said Jateen Trivedi of LKP Securities. (Source: IANS)
