The stock markets commenced the week positively on Monday, with the BSE Sensex increasing by 1,233.25 points, or 1.66 per cent, to close at 75,692.78. The index opened at 75,178.24 and reached an intraday high of 75,692.78, finishing the session at this peak level. Concurrently, the NSE Nifty 50 experienced a rise of 387.70 points, or 1.68 per cent, concluding at 23,440.80 after opening at 23,222.30 and dipping to a low of 23,207.05.

The rally was primarily driven by significant gains in heavyweight stocks, with Reliance Industries leading the charge, surging by 11.64 per cent. Other notable performers included Tata Steel, which rose by 5.64 per cent, and UltraTech Cement, which increased by 2.75 per cent. State Bank of India advanced by 2.71 per cent, while NTPC and Maruti Suzuki saw gains of 2.37 per cent and 2.16 per cent, respectively.

Despite the overall upward trend, some stocks faced declines. Infosys was the largest laggard among major Sensex and Nifty stocks, dropping by 1.61 per cent. Other stocks that experienced losses included Kotak Mahindra Bank, which fell by 0.65 per cent, and ICICI Bank, which decreased by 0.63 per cent. Sun Pharma and Axis Bank also reported minor declines.

Broader Market Indices Show Gains

The positive momentum was not limited to the benchmark indices, as broader market segments also closed higher. The Nifty 100 index rose by 1.71 per cent, while the Nifty 200 and Nifty 500 indices gained 1.61 per cent and 1.58 per cent, respectively. The Nifty Midcap 50 and Midcap 100 indices advanced by 1.24 per cent and 1.19 per cent.

Meanwhile, the Nifty Smallcap 100 saw an increase of 0.71 per cent, indicating widespread gains across various market segments. Most sectoral indices finished the day in positive territory, with the Nifty Oil and Gas index emerging as the top gainer, rising by 5.95 per cent. The Nifty Metal index also performed well, advancing by 3.21 per cent, while the Consumer Durables index increased by 2.70 per cent.

The Nifty Auto index rose by 1.33 per cent, and the PSU Bank index gained 1.36 per cent. Financial services, realty, and chemicals sectors contributed to the market’s strength. However, some sectors faced challenges, with the Nifty Media index declining by 0.76 per cent and the IT index falling by 0.50 per cent. Additionally, stocks in the pharma and private banking sectors ended slightly lower.

Crude Oil Prices Decline

Crude oil prices experienced a significant decline, providing relief to investors amid concerns regarding energy costs and geopolitical risks. At the time of reporting, WTI crude was trading at $99.72, down 4.23 per cent, while Brent crude fell by 4.28 per cent to $108.57. This decrease in oil prices coincided with renewed diplomatic efforts involving the US and Iran, which helped alleviate some concerns regarding potential disruptions to energy supplies.

Vinod Nair, Head of Research at Geojit Investments Limited, noted that Indian equities began the week on a solid footing, buoyed by better-than-expected second-quarter earnings and improving domestic indicators. He highlighted that October passenger vehicle sales growth reflected healthy festive demand, while gross GST collections reinforced the resilience of domestic consumption and economic activity.

Nair further explained that the softer crude oil prices and renewed diplomatic efforts between the US and Iran contributed to easing concerns over energy costs and geopolitical uncertainties. The shift of foreign investors towards buying, along with a global rotation away from AI-related stocks, also supported domestic equities. The rally extended into broader market indices, indicating an improvement in market participation.

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