Sensex Gains 107 Points and Nifty Reclaims 25,000 as PSU Bank Stocks Surge Over 3%
Indian equity benchmark indices ended on a flattish note on Monday following a range-bound session, with both headline gauges oscillating between modest gains and losses throughout the day before closing in positive territory.
The 30-share BSE Sensex ended 107.25 points, or 0.13 per cent, higher at 81,106.65 after moving within a tight band. It had previously settled at 80,999.40. Similarly, the broader NSE Nifty 50 settled at 25,044.65, advancing 58.25 points, or 0.23 per cent, from its preceding close of 24,986.40.
PSU Banks Lead Sectoral Performance
Sectoral performance showed marked divergence across Dalal Street. The Nifty PSU Bank index emerged as the session's standout performer, rallying more than 3 per cent on robust investor accumulation across state-owned lenders. Healthcare and pharmaceutical counters also extended firm gains, offering vital cushion to the broader indices.
Conversely, the information technology basket and cement stocks faced persistent profit-taking, finishing as the prominent sectoral laggards. Pockets of consumer durables, oil and gas, and select financial service names also remained under pressure.
In the broader market, small- and mid-cap indices finished with minor gains, with the Nifty MidCap 100 rising 0.55 per cent and the Nifty SmallCap 100 advancing 0.1 per cent.
Top Market Movers
Key Gainers:
- State Bank of India (SBIN)
- Larsen & Toubro (LT)
- Trent
- HDFC Bank
- ICICI Bank
- NTPC
- Mahindra & Mahindra (M&M)
- Maruti Suzuki
- Reliance Industries
- InterGlobe Aviation (IndiGo)
Key Losers:
- Tata Steel
- HCL Technologies
- Infosys
- Tech Mahindra
- Tata Consultancy Services (TCS)
- Power Grid Corporation
- ITC
- Bajaj Finance
Expert View and Global Background
Market analysts pointed to healthy consolidation after earlier rallies, with foreign institutional flows playing an anchoring role.
Ajit Mishra, SVP of Research at Religare Broking, noted that investors appeared to consolidate their positions following the sharp upmove of the preceding week. Foreign investor participation continued to provide support, with overseas investors having infused over USD 4.1 billion into Indian equities in November. He added that sustaining above key technical levels in the 24,600–24,800 band would remain crucial for maintaining a positive structural bias towards higher targets.
In international commodity markets, Brent crude hovered around USD 97.42 per barrel, while US crude traded near USD 90.34 per barrel during market hours, keeping traders cautious about imported inflation risks.
