Indian stock markets staged a strong comeback on Monday, snapping a three-session losing streak as investors turned to information technology (IT) stocks for fresh buying. The benchmark Sensex surged 319 points to close at 64,850, while the Nifty 50 advanced 92 points to settle at 19,420, driven by renewed optimism in the IT sector and selective buying across heavyweights.
IT Sector Sparks Recovery
IT majors including Infosys, TCS, and Wipro witnessed robust gains, supported by positive global cues and expectations of steady demand from overseas clients. The sector’s resilience helped offset weakness in select banking and energy counters, providing much-needed momentum to the broader indices.
Market analysts noted that after three consecutive sessions of declines, valuations in IT stocks appeared attractive, prompting institutional investors to step in. The rebound also coincided with easing concerns over global interest rates, which had weighed on sentiment in recent weeks.
Broader Market Performance
- Sensex: +319 points at 64,850
- Nifty 50: +92 points at 19,420
- Top Gainers: Infosys, TCS, Wipro, HCL Tech, Tech Mahindra
- Sectoral Trends: IT led the rally, while FMCG and auto stocks showed mixed performance. Banking stocks remained subdued amid profit booking.
Midcap and smallcap indices also participated in the rally, reflecting improved risk appetite among retail investors.
Investor Sentiment
Foreign Institutional Investors (FIIs) were net buyers, adding strength to the recovery. Domestic Institutional Investors (DIIs) also supported the uptrend, signaling confidence in India’s long-term growth story. Analysts believe that the IT sector’s rebound could set the tone for near-term market stability, though volatility may persist ahead of key macroeconomic data releases.
Global Context
Global markets remained steady, with U.S. indices showing resilience and Asian peers trading higher. The easing of bond yields and expectations of a softer monetary stance by the U.S. Federal Reserve contributed to improved sentiment across emerging markets, including India.
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In summary: After three days of declines, Indian stock markets rebounded sharply on the back of IT sector buying, with Sensex climbing 319 points. The rally highlights the sector’s importance in driving sentiment and offers opportunities for investors to align with expert strategies for sustained gains.
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