MUMBAI: Benchmark stock indices Sensex and Nifty rebounded on Monday, gaining half a per cent after a sharp rally in global markets and strong buying in banking stocks.
The 30-share BSE Sensex rose 341.04 points or 0.46 per cent to close at 74169.95, snapping its five-day losing streak. In intra-day trade, it climbed 547.44 points or 0.74 per cent to 74376.35. The NSE Nifty gained 111.55 points or 0.50 per cent to settle at 22508.75.
Among the Sensex constituents, Bajaj Finserv, Mahindra & Mahindra, Axis Bank, Bajaj Finance, Adani Ports, ICICI Bank, Zomato and UltraTech Cement were the top gainers.
On the other hand, ITC, Nestle, State Bank of India (SBI), Reliance Industries (RIL), Asian Paints and Tata Consultancy Services (TCS) were among the laggards.
IndusInd Bank up 5.3%
IndusInd Bank shares jumped 5.30 per cent in intra-day trade after the Reserve Bank of India (RBI) assured customers on Saturday that the lender remains well-capitalised, even as it directed the board to complete remedial action regarding an estimated Rs2,100 crore accounting discrepancy within the month. The stock ended at Rs676.95, up 0.72 per cent.
Asian markets, including Seoul, Tokyo, Shanghai and Hong Kong, closed higher, while European markets were trading in the green. US stocks ended sharply higher on Friday.
Wholesale price inflation edged up to 2.38 per cent in February, driven by higher prices of manufactured food products such as vegetable oil and beverages, government data showed on Monday.
Foreign institutional investors (FIIs) sold equities worth Rs792.90 crore on Thursday, according to exchange data. Domestic stock markets were closed on Friday for Holi.
FII outflow
Total FII outflows in 2025 so far stand at Rs1.42 lakh crore ($16.5 billion), depository data showed.
“The market saw a positive session, supported by strength in healthcare and financial stocks. However, lower domestic investor participation due to tariff-related uncertainties could lead to range-bound movement in the near term,” said Vinod Nair, head of research at Geojit Financial Services.
He noted that sustained momentum would depend on signs of earnings growth, while improving domestic economic indicators point to a potential recovery.
“Investors are closely watching the upcoming US Federal Reserve and Bank of Japan (BoJ) meetings, with expectations leaning towards a status quo due to inflation risks tied to tariff uncertainties,” Nair added.
Global oil benchmark Brent crude rose 1.06 per cent to $71.33 a barrel.
