Markets snap 3-day decline, Sensex jumps 319 pts on buying in IT and financial stocks

Mumbai: Benchmark stock indices Sensex and Nifty bounced back on Monday after three straight days of losses following buying in IT and financial shares and a rally in global peers.

The 30-share BSE Sensex benchmark climbed 319.07 points, or 0.38 per cent, to close at 83,535.35. In the intraday session, the index rallied 538.21 points, or 0.64 per cent, to hit a high of 83,754.49.

The NSE Nifty advanced 82.05 points, or 0.32 per cent, to settle at 25,574.35. During the day, it climbed 161.15 points or 0.63 per cent to hit an intraday high of 25,653.45.

Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Asian Paints, Tata Motors Passenger Vehicles, Tata Consultancy Services, Bharti Airtel, Titan, Bajaj Finserv, Reliance Industries and Larsen & Toubro were the gainers.

Trent Ltd, Eternal, Power Grid, UltraTech Cement, Mahindra & Mahindra, Axis Bank, SBI, Adani Ports, Hindustan Unilever and NTPC were the laggards.

“The potential resolution of the US government shutdown, coupled with renewed FIIs buying driven by a favourable Q2 earnings season, supported a positive sentiment in the market. The rise in the US 10-year Treasury yield reflects improving risk sentiment toward equities with the reopening of the federal government,” Vinod Nair, Head of Research, Geojit Investments, said.

Domestically, strengthening macroeconomic indicators are expected to underpin upward revisions in earnings estimates for H2FY26. This reinforces the current valuations and is likely to attract incremental liquidity, Nair added.

FIIs bought equities worth Rs 4,581.34 crore on Friday, while Domestic Institutional Investors outnumbered the FIIs by acquiring the stocks worth Rs 6,674.77 crore, according to the exchange data.