Sensex rises 521 points, Nifty ends above 24,430 as realty, auto stocks lead rally

On Monday, Indian share indices recorded their fourth straight session of gains, buoyed by robust buying in realty, automobile, oil and gas counters.

The Nifty finished up 159.50 points, or 0.66%, at 24,430.35, and the Sensex rose 521.16 points, or 0.67%, closing at 78,285.07.

Analysts noted that the Nifty’s technical view points to the 24,500‑24,600 band as a key area to monitor in coming sessions; a clear break above this range would likely affirm the current bullish momentum.

“Should the index retreat, the 24,200 mark is seen as the first line of support, with the 24,000 psychological level acting as the next support,” an analyst remarked.

Leading the Nifty’s advance were HDFC Bank, Hindalco Industries and Oil & Natural Gas Corp (ONGC), which posted the biggest gains and helped push the benchmark higher.

The broader market closed higher as well, with the Nifty MidCap up 0.45% and the Nifty SmallCap outperforming, gaining 0.75%.

Most sectoral indices traded in positive territory, with the Nifty Realty index heading the advance to a six‑month high. The Nifty Auto index rose to its monthly peak, and the Nifty Oil & Gas and Nifty Consumer Durables indexes also recorded solid gains.

Analysts said the rally marked the fourth straight session of gains for the benchmark indices, with sustained buying in rate‑sensitive and cyclical sectors underpinning market sentiment.

“Market sentiment stays upbeat, aided by a falling India VIX that signals growing investor confidence,” an analyst noted.

“The rally was broad‑based, with real estate, oil & gas, automobiles and consumer durables leading the pack, each gaining about 1% during the session as buying interest spread across the market,” an expert said.