Sensex and Nifty soar as landmark India–NZ FTA triggers market rally
Indian stock markets ended on a strong note on Monday, extending gains from the previous session, even as global cues remained mixed.
Buying interest in information technology and metal stocks helped push the benchmark indices higher. Positive sentiment was also supported by optimism surrounding the signing of the India–New Zealand free trade agreement, which boosted investor confidence.
The Sensex closed at 85,567.48, rising 638.12 points, or 0.75 per cent, while the Nifty settled at 26,161.60, up 195.20 points, also a gain of 0.75 per cent.
Market experts said the Nifty closed the session on a strong note after confirming a breakout above the 26,050–26,100 zone, validating a double-bottom pattern and reinforcing the ongoing daily uptrend. They added that as long as the index holds above the 25,950–26,000 support band, the broader structure remains bullish, with a decisive close above 26,200 potentially opening the path towards the 26,300–26,500 range.
On the BSE, shares of Trent, Infosys and Bharti Airtel were among the top gainers, reflecting strong buying interest. In contrast, State Bank of India, Kotak Mahindra Bank and Larsen & Toubro ended as the top laggards.
On the NSE, Trent, Shriram Finance and Wipro emerged as the top performers, while HDFC Life Insurance, Tata Consumer Products and State Bank of India weighed on the index.
The broader market also participated in the rally, with the Nifty SmallCap 100 index rising 1.17 per cent and the Nifty MidCap 100 index gaining 0.84 per cent.
Sectorally, the IT index led the gains, rising 2.06 per cent, followed by the metal index, which advanced 1.41 per cent. Nifty Consumer Durables was the only sector to end in the red, slipping marginally by 0.16 per cent.
