Stock markets witnessed a significant surge on Monday as the benchmark Sensex soared by 583 points, propelling the Nifty above the 25,000 mark. This rally marked the third consecutive day of gains, driven by strong buying activity in the IT and financial sectors. The BSE Sensex closed 582.95 points higher at 81,790.12, with intraday peaks reaching 81,846.42. Similarly, the Nifty index surged by 183.40 points to settle at 25,077.65, marking a notable recovery to surpass the 25,000 milestone.

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Notable gainers in the stock market included Tata Consultancy Services, Tech Mahindra, Axis Bank, Bajaj Finance, Eternal, Infosys, Kotak Mahindra Bank, and Bajaj Finserv. Conversely, Tata Steel, Adani Ports, Power Grid, and Titan were among the stocks that lagged behind. Vinod Nair, Head of Research at Geojit Investments Limited, attributed the positive market sentiment to gains in the financial services and IT sectors, driven by strong quarterly updates and attractive valuations.

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The BSE midcap index saw a 0.68% increase, while the smallcap index experienced a marginal dip of 0.20%. Sector-wise, the IT segment recorded the highest surge at 2.21%, followed by IT, teck, bankex, healthcare, and financial services indices. In contrast, commodities, FMCG, telecommunication, utilities, and metal sectors underperformed during the trading session.

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Prashanth Tapse, Senior VP of Research at Mehta Equities Ltd, highlighted that despite the overall positive market trend, the rally was not broad-based, indicating a cautious undertone. He noted that foreign investors had engaged in significant selling, contributing to a slightly weak bias in the market.

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Meanwhile, Asian markets displayed mixed performance, with Japan’s Nikkei 225 index surging nearly 5%, while Hong Kong’s Hang Seng index closed lower. Chinese and South Korean markets remained closed due to holidays. In Europe, stock markets were trading lower, and the U.S. markets closed with a mixed outlook on the preceding Friday.

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Global oil benchmark Brent crude witnessed a 1.78% increase, reaching $65.68 per barrel. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,583.37 crore on the previous trading day, as per exchange data. The positive momentum in the stock markets reflected a combination of domestic and global factors influencing investor sentiment and trading dynamics.

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