Stock market rallies for 6th straight session, Nifty tops 26,000

Indian equity markets sustained their upward trajectory for a sixth consecutive day on Monday, extending gains from the prior week amid broad-based buying activity.

The Sensex closed the trading session at 84,950.95, marking an increase of 388.17 points (0.46%). Opening at 84,700.50 compared to Friday’s close of 84,562.78, the benchmark index maintained positive momentum throughout the day. It reached an intraday peak of 84,988.09 after touching a low of 84,581.08 during the session.

The Nifty index concluded at 26,013.45, gaining 103.40 points (0.40%).

Market analysts observed sustained bullish sentiment near the critical 26,000 threshold, with investors awaiting significant catalysts to drive further advancement. Potential developments around international trade agreements remain a key focus area for market participants.

Current market conditions present favorable risk-reward dynamics, particularly supported by robust second-quarter earnings from mid-cap companies. These results have reinforced expectations for economic recovery and potential upward revisions in future earnings projections.

Key performers in the Sensex included Eicher Motors, Maruti Suzuki, Kotak Mahindra Bank, Mahindra & Mahindra, Tech Mahindra, Titan Company, HDFC Bank, Power Grid Corporation, HCL Technologies, Larsen & Toubro, and NTPC. Notable decliners were Tata Motors (PV segment), Asian Paints, UltraTech Cement, and Tata Steel.

Most sectoral indices reflected the positive trading sentiment. The Nifty Financial Services sector advanced 154 points (0.56%), while Banking stocks climbed 445 points (0.76%). The Auto index rose 232 points (0.85%), with FMCG gaining 116 points (0.21%) and IT stocks adding 73 points (0.20%).

Broader market indices mirrored the upward trend. The Nifty Smallcap 100 increased by 95 points (0.52%), the Midcap 100 surged 441 points (0.73%), while the Nifty 100 index grew by 111 points (0.42%).

(Inputs sourced from IANS)