Sensex, Nifty jump on banking boost, end 5-day losing streak

Benchmark stock market indices closed higher on Monday, driven by gains in banking stocks with shares of ICICI Bank ending 3% higher.
The S&P BSE Sensex added 602.75 points to close at 80,005.04, while the NSE Nifty50 gained 158.35 points to close at 24,339.15.
Vaibhav Vidwani, Research Analyst, Bonanza, said that stock markets experienced a significant rebound in today’s market, with the Sensex surging by 602 points, closing at 80,005, and the Nifty climbing 158 points to settle at 24,339.
“This rally followed a five-day losing streak, largely driven by strong quarterly earnings from ICICI Bank and Bank of Baroda, which boosted investor sentiment. The current rally is encouraging, but ongoing foreign institutional selling and weaker corporate earnings could continue to pressure the market in the near term,” he added.
In today’s trading session on the Nifty 50, Shriram Finance emerged as the top performer with a substantial gain of 5.35%, followed by Adani Enterprises, which surged 4.07%. Banking major ICICI Bank showed strong momentum, rising 3.10%, while JSW Steel advanced 3.00%. IT giant Wipro rounded off the top gainers with an increase of 2.90%.
On the declining side, Coal India faced the steepest fall of 3.76%, while Bajaj Auto dropped 2.07%. The banking sector saw some pressure with Axis Bank declining 1.29%. Hero MotoCorp fell by 1.19%, while Bharat Electronics Limited (BEL) showed a modest decline of 0.92%.
In today’s trading session, all sectoral indices traded in positive territory, with Nifty PSU Bank emerging as the top performer, surging 3.78%. Nifty Metal showed significant strength with a gain of 2.54%, while Nifty Media advanced by 1.96%. Healthcare-related indices demonstrated robust performance with Nifty Midsmall Healthcare rising 1.64% and Nifty Healthcare Index gaining 1.35%.
Nifty Realty moved up by 1.38%, while Nifty Pharma added 1.25%. The banking sector showed broad-based strength with Nifty Bank advancing 0.93%, Nifty Financial Services gaining 0.54%, Nifty Financial Services 25/50 rising 0.64%, and Nifty Private Bank up by 0.27%. Other sectors also posted positive gains with Nifty Auto climbing 0.69%, Nifty FMCG up 0.58%, Nifty IT advancing 0.40%, Nifty Consumer Durables gaining 0.25%, and Nifty Oil & Gas showing a modest increase of 0.17%.