Indian equity markets witnessed a strong start to the week as the Nifty 50 closed at 25,090 and the Sensex ended the session with a 440-point rise to 82,200. Investors reacted positively to supportive global cues and sector-specific optimism, helping key indices edge closer to new highs. Despite some intraday volatility, the overall sentiment remained optimistic by close.
Banking stocks were the clear outperformers, with the Nifty Bank index gaining over 670 points to settle at 56,950. This strong rally in the banking space provided critical support to the broader market, even as investors remained cautious about global economic developments, particularly ongoing US-India negotiations that could impact market direction in the coming weeks.
In the broader market, the BSE Midcap index rose 260 points to close at 47,000, reflecting a 0.55 percent increase. Meanwhile, the BSE Smallcap index closed flat at 55,281. The divergence between midcaps and smallcaps suggests that investor confidence is selectively growing in companies with stronger fundamentals and clearer earnings visibility.
Market breadth during the session was fairly balanced. Out of 3,075 stocks traded on the BSE, 1,492 advanced while 1,484 declined and 99 remained unchanged. There were 84 stocks that touched new 52-week highs, showcasing optimism among investors in select segments. On the other hand, 29 stocks recorded fresh 52-week lows, indicating ongoing pressure in pockets of the market.
Zomato emerged as the top gainer in the Nifty 50, ending the session with a sharp 7.5 percent rally. Its stock surge was driven by renewed buying interest and potentially positive updates in the food delivery and quick commerce segments. Major banking names such as ICICI Bank, HDFC Bank, and HDFC Life also performed well, reflecting strength in the financial sector. Mahindra and Mahindra was among the other top performers, supported by positive sentiment around auto sales.
In contrast, shares of Reliance Industries came under pressure, falling more than 2 percent during the session. This was largely attributed to investor reaction following the company’s quarterly earnings release. Other notable laggards included Wipro, IndusInd Bank, Eicher Motors, and HCL Technologies. Weakness in IT stocks suggested that global uncertainty and margin concerns continue to weigh on sentiment in that sector.
Market analysts noted that despite the intraday volatility, the Nifty found support at its 50-day exponential moving average, which helped fuel the recovery seen by the end of the day. While technical indicators still point to weak momentum in the near term, traders are keeping a close eye on the 24,900 support level. A fall below this could open the door to further downside. On the upside, resistance is expected between 25,200 and 25,260, which would need to be cleared decisively for a fresh rally to unfold.
Among business groups, the Adventz Group stood out as its market capitalization increased the most, rising by 5.64 percent. Stocks such as Paradeep Phosphates, which gained up to 8.2 percent, led the charge. Other groups that saw market cap increases included Nagarjuna Group and Modis Group. Meanwhile, Jaypee Group faced a rough session with a sharp 5.6 percent drop in its overall valuation.
Investor sentiment remains cautiously optimistic as markets continue to look for direction from both domestic earnings and international developments. With earnings season in full swing and several large-cap companies expected to announce results soon, market participants will be watching closely for signals that justify further upside or warn of a pause.
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