Sensex Jumps 736 Points, Nifty Ends Above 23,850 on Strong Market Rally

KEY TAKEAWAYS:

Sensex gained 736.38 points to close at 76,264.33.
Nifty rose 231 points and settled at 23,853.90.
Falling oil prices and the Iran-US peace deal boosted investor confidence.

MUMBAI: The Indian stock market rally continued on Monday as benchmark indices posted strong gains, supported by easing geopolitical tensions and a sharp decline in global crude oil prices.

The BSE Sensex surged 736.38 points, or 0.97 percent, to close at 76,264.33, while the NSE Nifty advanced 231 points, or 0.98 percent, to settle at 23,853.90.

The strong performance reflected improving investor sentiment across sectors as concerns over global energy supply disruptions eased.

What Drove the Indian stock market rally ?

Market experts attributed the rally primarily to reports of a peace understanding between the United States and Iran, which reduced fears surrounding disruptions in the Strait of Hormuz, one of the world’s most critical oil transit routes.

The development pushed Brent crude prices sharply lower, falling nearly 5 percent and easing concerns about imported inflation for India.

A stronger rupee also added support to market sentiment, with the currency strengthening against the US dollar.

Sectoral Performance

Most sectors ended the day in positive territory.

Top-performing sectors included:

Realty
Financial Services
Automobiles
Cement
Metals

The Nifty Realty index emerged as the biggest gainer, rising more than 3 percent during the session.

Meanwhile, pharmaceutical and healthcare stocks underperformed, making them the only major laggards in an otherwise positive market environment.

Top Gainers and Losers

Among Sensex and Nifty constituents, major gainers included:

Infosys
Titan
Bajaj Finance
Bajaj Finserv
Maruti Suzuki
Mahindra & Mahindra
IndiGo
Eternal

Stocks that ended lower included:

NTPC
ICICI Bank
Tata Steel
Tech Mahindra
Adani Ports

Technical Outlook for Nifty

Market analysts noted that Nifty has rebounded strongly and is now approaching an important resistance zone between 23,950 and 24,000.

The index is currently trading above its 50-day Exponential Moving Average (EMA), indicating positive short-term momentum.

However, analysts also cautioned that the Relative Strength Index (RSI) is nearing overbought territory, suggesting the possibility of consolidation or profit booking in the near term.

Key Levels to Watch On Nifty

According to analysts:

Immediate support lies near 23,640.
Resistance is placed around 23,950–24,000.
A breakout above 24,000 could trigger further upside momentum.

The second-order impact of lower crude oil prices is particularly positive for India, as it helps reduce inflationary pressures, supports the rupee and improves corporate profitability across several sectors.

Investors will continue monitoring global developments, crude oil prices and foreign institutional investor activity in the coming sessions.

With geopolitical tensions easing and energy prices retreating, market sentiment remains broadly positive. However, analysts expect some caution near the psychologically important 24,000 mark on Nifty as traders assess the sustainability of the current rally.

Disclaimer:The information provided in this article is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The mtimes.co.in portal is not liable for any losses or damages arising from the use of this information.

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