Sensex Surges 800 Points, Nifty Tops 24,550 on Falling Crude Oil and FII Inflows
2 min read
Indian stock markets advanced on Monday, with benchmark indices gaining as much as 1 % in the morning session, driven by broad buying in banking, FMCG and metal shares as crude oil prices eased, the monsoon continued its steady progress and foreign fund inflows revived.
Key Takeaways
- Sensex jumped 800 points (1.02%) to an intraday peak of 78,895.10, and Nifty rose 192.85 points (0.79%) to 24,576.45.
- FMCG, metal, cement and banking stocks led gains as crude oil prices eased and FII inflows revived.
- Media, pharmaceutical and healthcare shares faced selling pressure during the session.
- Steady monsoon progress also supported broader market sentiment.
The Sensex jumped 800 points, or 1.02 %, reaching an intraday peak of 78,895.10 in early trading, while the Nifty rose 192.85 points, or 0.79 %, to 24,576.45.
Sector‑wise, FMCG, metal, cement and banking stocks were the top gainers, with the Nifty FMCG, Nifty Metal, Nifty Chemicals, Nifty Cement, Nifty PSU Bank and Nifty Private Bank indices each climbing as much as 1 %.
Conversely, media, pharmaceutical and healthcare shares faced selling pressure, as the Nifty Media, Nifty Pharma and Nifty Healthcare indices slipped by as much as 1.6 %.
Broader market segments also attracted buyers, with the Nifty Microcap 500 and Nifty Smallcap 100 each gaining roughly 1 %.
Analysts say the market is set for a breakout above the 24,500 mark on the Nifty, supported by declining crude oil prices, steady monsoon conditions and foreign institutional investors shifting to net buying.
They noted that resilient economic growth amid global headwinds, credit expansion exceeding 18 %, robust automobile sales and better‑than‑expected Q1 earnings suggest FY27 earnings growth could outpace earlier forecasts.
Market experts added that robust inflows via FCNR(B), ECB and OFCB channels have steadied the rupee, paving the way for foreign investors to return.
From a derivatives viewpoint, Nifty’s short‑term trading range is clearly delineated. Substantial PUT open interest around the 24,400 strike furnishes solid support, whereas heavy CALL writing near 24,600 is likely to limit near‑term upside, experts said.
Meanwhile, immediate support sits at 24,350, bolstered by a cluster of PUT open interest, suggesting traders anticipate Nifty will stay mostly range‑bound.
Maintaining levels above 24,350 would favour a mild bullish outlook, whereas a dip below could dampen sentiment.
Meanwhile, Brent crude, the global oil benchmark, fell more than 5 % to $83.31 per barrel, and US West Texas Intermediate (WTI) dropped nearly 7 % to $78.78 per barrel, adding further buoyancy to market sentiment.
