Mumbai Stock Market Soars: Sensex and Nifty Continue Winning Streak

Market Performance Overview

Mumbai: The benchmark equity indices, Sensex and Nifty, experienced a rise for the fourth consecutive day on Monday, buoyed by a surge in global markets and positive investor sentiment following the Reserve Bank of India's significant 50 basis points interest rate cut.

The 30-share BSE Sensex increased by 256.22 points, or 0.31%, closing at 82,445.21, with bank stocks leading the charge. At its peak during the day, it soared by 480.01 points, reaching 82,669.

Meanwhile, the 50-share NSE Nifty rose by 100.15 points, or 0.40%, to finish at 25,103.20.

Investor optimism was further fueled by the prospect of renewed trade discussions between the United States and China.

Among the top performers on the Sensex were Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid, IndusInd Bank, Maruti, Bajaj Finserv, and NTPC.

Conversely, stocks such as Eternal, ICICI Bank, Titan, Mahindra & Mahindra, Adani Ports, Tata Steel, and Bharti Airtel lagged behind.

In the Asian markets, indices like South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng all closed positively.

European markets, however, were trading slightly lower.

On Friday, US markets had a strong finish, closing significantly higher.

According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,009.71 crore on Friday.

The global oil benchmark, Brent crude, saw a 0.30% increase, reaching USD 66.67 per barrel.

On the previous Friday, the BSE Sensex had closed up by 746.95 points, or 0.92%, at 82,188.99, while the Nifty reclaimed the 25,000 mark, rising by 252.15 points, or 1.02%, to settle at 25,003.05.