Indian equity markets wrapped up Monday’s session on a firm footing, with benchmark indices extending their upward momentum through the day. The Nifty settled above the 25,800, up 0.68%, while the Sensex closed with a gain of nearly 500 points or 0.58% at 84,065.75.
Broader markets outperform
Broader markets also ended in green with midcap and smallcap stocks seeing sharper gains. The Nifty Midcap index ended the session higher by about 1.6%, while the Nifty Smallcap index jumped nearly 2.6%.
Banking and PSU stocks shine
Banking stocks played an important role in supporting the market. PSU bank shares were among the top performers, adding to overall gains. On the BSE, State Bank of India emerged as the top gainer, rising over 7% by the close. Stocks like Titan, UltraTech Cement, Tata Steel and Eternal also ended the day higher.
On the other hand, a few heavyweight stocks capped sharper gains. Power Grid and ITC slipped by around 1%, while NTPC, ICICI Bank and Infosys also ended lower.
Sectoral picture
PSU banks, media and consumer durables stood out, each gaining more than 3%. Among other segments, agriculture and allied stocks led the broader sectoral rally with gains of over 4%, followed closely by gems and jewellery, electronics and non-alcoholic beverages, which also rose in the range of 4% to 4.5%.
Business groups
Looking at business groups, Essar Group stocks topped the charts with gains of nearly 9%, followed by Avantha, Yash Birla, Shriram and Oswal groups, which also posted strong advances.
On the downside, Modis, Poddar, Manipal and Ruchi group stocks saw mild to moderate losses.
Currency update
The Indian rupee weakened slightly against the US dollar, ending around 90.76 per dollar, down about 0.1% from the previous close.