Benchmark indices extended their winning streak to a sixth consecutive session on Monday, with Bank Nifty hitting a fresh all-time high above 58,900 for the first time, while the Nifty50 reclaimed the psychological 26,000 mark amid broad-based buying across sectors.
The BSE Sensex closed at 84,950.95, gaining 388.17 points or 0.46 per cent from its previous close of 84,562.78. The Nifty50 ended at 26,013.45, up 103.40 points or 0.40 per cent from 25,910.05. Bank Nifty surged 445.15 points or 0.76 per cent to close at 58,962.70.
“The market has maintained its positive momentum, hovering near the key psychological level of 26,000, as investors anticipate a strong catalyst for further upward movement. A potential trade deal remains a crucial trigger that participants are closely monitoring,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
Market breadth remained positive with 2,011 stocks advancing against 2,300 declining on the BSE. As many as 177 stocks hit 52-week highs, while 191 touched 52-week lows.
Broader outperformance
The broader markets outperformed benchmarks, with Nifty Midcap 100 hitting a fresh record high before closing at 61,180.50, up 441.30 points or 0.73 per cent. The Nifty Smallcap 100 gained 95.10 points or 0.52 per cent to 18,347.60. Nifty Next 50 advanced 367.25 points or 0.53 per cent to 70,154.10, while Nifty Financial Services rose 154.35 points or 0.56 per cent to 27,646.20.
Among sectoral indices, all ended in the green with Nifty PSU Bank, Financial Services and Auto leading the gains.
Eternal emerged as the top gainer, surging 1.93 per cent to ₹309.60 from ₹303.75. Tata Consumer Products gained 1.83 per cent to ₹1,179.00 from ₹1,157.80. Max Healthcare rose 1.73 per cent to ₹1,122.20 from ₹1,103.10, while Eicher Motors advanced 1.70 per cent to ₹6,809.00 from ₹6,695.00. Maruti Suzuki climbed 1.31 per cent to ₹15,889.00 from ₹15,684.00.
On the losing side, TMPV declined 4.74 per cent to ₹372.65 from ₹391.20. UltraTech Cement fell 0.83 per cent to ₹11,775.00 from ₹11,874.00. Jio Financial Services dropped 0.78 per cent to ₹312.45 from ₹314.90, while Asian Paints slipped 0.72 per cent to ₹2,885.40 from ₹2,906.40. HDFC Life declined 0.70 per cent to ₹768.30 from ₹773.70.
“The Indian market continues to reflect a resilient domestic macro backdrop, supported by robust demand trends across auto, realty, and consumer goods,” said Ponmudi R, CEO, Enrich Money.
The rally was supported by optimism around the conclusion of second quarter FY26 earnings on a healthy note and the NDA’s landslide victory in the Bihar Assembly elections.
“Currently, the risk-reward ratio is largely favourable, bolstered by stronger-than-expected Q2 earnings from Midcaps, which have reinforced confidence in growth revival and point to potential future earnings upgrades,” Nair added.
“The Nifty extended its winning streak to six consecutive sessions, closing above the psychological 26,000-mark. The overall structure remains strong, suggesting the potential for fresh record highs in the near term,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst, Centrum Broking.
Market volatility eased with India VIX declining 1.26 per cent to 11.78.
Looking ahead, analysts remain constructive. “We believe that 25,900/84,500 would act as a key support zone. Above this level, the index could move up to 26,100/85,200. Further upside may also continue, potentially lifting the index up to 26,200-26,225/85,500-85,700,” said Shrikant Chouhan, Head Equity Research at Kotak Securities.
The Nifty now faces immediate resistance at 26,100, with support at 25,900. A decisive breakout above 26,100 could pave the way for a move toward 26,300-26,500 in the near term.