Sensex Jumps 583 Points As IT, Banking Stocks Shine, But Can The Nifty Stay Above 25000 For Long? Details Inside

Mumbai: The Indian stock market ended higher for the third day in a row on Monday. This time, the Sensex jumped 583 points to close at 81,790, while the Nifty gained 183 points, finishing at 25,077. This rally was mainly led by IT and banking stocks, which saw strong buying throughout the day.

Experts said that Nifty has now clearly broken past the important level of 25,000, which is seen as both a psychological and technical milestone. They believe this makes the market trend positive, and any drop around the 25,000 mark will likely act as a support level.

Bank Nifty Hits New High, Sector Indices Perform

The Bank Nifty index also had a great day, crossing 56,100 and touching a high of 56,164. Analysts say the next resistance levels for Bank Nifty are at 56,300 to 56,500, while support lies between 55,500 and 55,821.

Other indices also saw gains — the Nifty Midcap 100 was up by 0.89 percent, and Nifty Smallcap 100 rose 0.28 percent.

Top Gainers and Losers

Among the top-performing Sensex stocks were TCS, Tech Mahindra, Eternal, Axis Bank, and Bajaj Finance, with gains of up to 3 percent. On the downside, Trent, Tata Steel, Power Grid, and Titan ended in the red.

Sector-wise, IT stocks led the charge, with the Nifty IT index jumping 2.28 percent. Other sectors that did well included Private Banks, Financial Services, and Healthcare.

However, not all sectors had a good day — Metal, FMCG, and Media stocks saw losses of up to 1 percent.

What’s Driving the Rally?

Market experts say that strong buying by institutional investors, especially in IT and banking, is pushing the market up. With Q2 results around the corner, sentiment remains positive.

They also pointed out that hospital stocks performed well after CGHS rates were revised, while banking stocks gained due to strong quarterly updates and low valuations.