Markets roared into the new trading week with a wave of optimism as key indices clocked fresh highs. Both the Nifty and Sensex surged on Monday, fueled by robust earnings from heavyweight banks and renewed buying in tech stocks.
It was a morning full of momentum. The Nifty 50 opened strong and quickly barreled past the 24,000 mark, touching 24,004. The Sensex, not to be left behind, surged more than 800 points intraday, hitting 79,350. Markets stayed buoyant through the session, with sectoral indices glowing green.
Banks and IT Spark Early Fireworks
The opening bell couldn’t have rung louder for Indian equity markets. Within minutes, stocks were buzzing — and banks were clearly the headline act.
Axis Bank, HDFC Bank, and ICICI Bank all caught fire on the back of better-than-expected Q4 results. The Bank Nifty index opened 566 points higher, or 1.04%, reaching an all-time high of 54,855.
Infosys and Tech Mahindra added fuel to the fire. These IT giants were among the top Nifty 50 gainers early in the day.
For investors, that meant a flood of green across screens:
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Nifty Bank up 1.2%
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Nifty IT up 1.33%
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Infosys gained over 2.5%
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Axis Bank jumped more than 3%
It was a rare sight — tech and banking, often dancing to different beats, moving in sync.
Market Breadth Widens, Sentiment Stays Strong
The rally wasn’t just limited to a few sectors. Market breadth was visibly broad. Midcaps and smallcaps joined the party, with volume picking up across the board.
One trader at Mumbai’s Dalal Street put it simply: “Buyers outnumbered sellers by a mile.”
Even sectors like pharma and auto, which remained muted last week, saw some positive movement. The broader confidence was unmistakable.
A quick peek at index-level gains shows the breadth:
| Index | Gain (%) | Key Driver |
|---|---|---|
| Nifty 50 | +1.1% | Banks, Tech |
| Sensex | +1.02% | Axis Bank, Infosys |
| Bank Nifty | +1.04% | Q4 Earnings Buzz |
| Nifty IT | +1.33% | Infosys, Tech Mahindra |
Infosys, Axis Bank Shine Brightest
Infosys was clearly back in investor good books. The stock rallied sharply, recovering from last week’s post-earnings dip. Analysts had trimmed expectations, but sentiment flipped after better guidance emerged in Monday’s commentary.
Axis Bank, meanwhile, put out Q4 numbers that investors loved. Profit growth, asset quality improvement, and strong loan book traction all played their part.
HDFC Bank was close behind. It bounced back strongly after a few muted sessions, thanks to renewed interest from both FIIs and domestic mutual funds.
One-liner: Axis and Infosys turned out to be the morning’s golden tickets.
Early Signals of FII Inflows Return
Foreign Institutional Investors (FIIs), who’ve been net sellers over the past few weeks, showed signs of returning. The uptick in IT and banking stocks hinted at increased institutional interest.
Traders said block deals were picking up and that several high-volume counters bore the signature of large institutional hands.
This might be an early trend reversal. But let’s not jump the gun — the next few sessions will tell.
All Eyes Now on Global Cues and Fed Signals
Even with the domestic rally, caution still lingers. Global markets remain jittery over U.S. inflation data and possible Fed commentary later this week.
So far, India’s decoupling story has worked well. But any unexpected move from the Fed could throw cold water on the rally.
