The Sensex continued its winning streak for the sixth consecutive session on Monday, with banking and financial stocks leading the rally and pushing the index past the 78,000 mark intraday. The 30-share BSE Sensex closed at 77,984.38, up 1,078.87 points or 1.40%, while the NSE Nifty settled at 23,658.35, gaining 307.95 points or 1.32%.
According to Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, the rally was fueled by short covering ahead of the monthly F&O expiry and optimism from foreign investors due to a sharp fall in the local currency, along with strong US and European market cues.
Top gainers on the day included NTPC Ltd, which surged 4.61% supported by strong institutional buying, Kotak Mahindra Bank which gained 4.51%, State Bank of India (SBI) climbing 3.77%, Tech Mahindra adding 3.54%, and Power Grid Corporation rising 3.14%.
On the other hand, the top losers were Titan Company Ltd, IndusInd Bank, Zomato Ltd, Mahindra & Mahindra (M&M), and Bharti Airtel.
Banking and financial stocks continued to drive the market rally, with Nifty Bank surging 2.05% and Nifty Financial Services gaining 1.98%. Investors remained optimistic ahead of key macroeconomic data and global market trends.
