Sensex and Nifty Extend Winning Streak as Banking & IT Stocks Lead the Rally
Indian stock markets continued their upward momentum for the sixth consecutive session on Monday, driven by strong gains in banking and IT stocks. The rally was further fueled by foreign capital inflows and bargain buying, boosting investor confidence. At around 11:01 am, the BSE Sensex surged 919 points (1.19%) to 77,823, while the Nifty50 climbed 264 points (1.13%) to 23,615.
Market Capitalisation Soars Amid Strong FPI Inflows
The total market capitalisation of all BSE-listed companies jumped by ₹4.63 lakh crore, reaching a massive ₹417.93 lakh crore. This impressive rise came on the back of a renewed buying spree by foreign portfolio investors (FPIs), who purchased Indian equities worth ₹7,470 crore on Friday—the highest single-day inflow in four months.
This marks a significant reversal from the prolonged FPI selling since late September, which had led to an outflow of nearly $29 billion from the Indian markets. The earlier sell-off was attributed to concerns over slowing domestic earnings growth, rising tariffs, and stretched valuations. However, the return of FPIs suggests a renewed optimism in India’s economic resilience and market potential.
Key Gainers and Losers in the Market Rally
Among the top gainers from the Sensex pack, Power Grid, L&T, Kotak Mahindra Bank, NTPC, and Tech Mahindra saw gains of up to 3%, benefiting from renewed buying interest in infrastructure and banking stocks.
On the other hand, M&M, UltraTech Cement, Titan, and Infosys were among the stocks that traded lower, facing mild profit-booking after recent gains.
Outlook for the Markets
With the return of foreign capital and sustained momentum in key sectors like banking and IT, market analysts anticipate further gains in the near term. However, investors remain watchful of global cues, earnings reports, and policy developments that could impact the market direction.
For now, the bullish sentiment continues to dominate Indian equity markets, reinforcing optimism among investors and traders alike.
