Indian Stocks Surge to Record Highs as IT, Bank Stocks Lead
Indian stock markets continued their winning streak for the third straight session on Monday, with the Sensex jumping 582.95 points, or 0.72 per cent, to close at 81,790.12. The Nifty also rose, gaining 183.4 points, or 0.74 per cent, to end the day at 25,077.
The rally was led by IT and banking stocks. The Nifty IT index surged 2.28 per cent, while the Bank Nifty surged past 56,100, hitting an intra-day high of 56,164. In the Sensex pack, TCS, Tech Mahindra, Eternal, Axis Bank, and Bajaj Finance were the top performers, climbing as much as 3 per cent. Broader markets also joined the rally, with the Nifty Midcap 100 gaining 0.89 per cent and the Nifty Smallcap 100 inching up 0.28 per cent.
Analysts noted that the Nifty has successfully broken above the key psychological and technical resistance level of 25,000, turning the structure decisively positive. Any dip toward the 25,000 zone is expected to act as a strong support level, with immediate resistance seen at 25,200 and 25,500.
The Indian stock markets continued their upward momentum on Monday, led by gains in IT and banking stocks. The Sensex and Nifty closed at record highs, with the Nifty successfully breaking above the 25,000 resistance level. Market participants await further cues to gauge the sustainability of the rally.
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