The Sensex surges over 800 points, while the Nifty crosses the 23,950 mark in the opening trade.

The Sensex surges over 800 points, while the Nifty crosses the 23,950 mark in the opening trade, supported by broad-based buying across banking, auto, oil & gas and PSU stocks. Market Updates Today: The domestic equity market extended gains in afternoon trade on Monday, supported by broad-based buying in banking, financial and select auto stocks amid easing crude oil prices and improving global risk sentiment. The BSE Sensex was trading 874 points, or 1.16%, higher at 76,289 at around 12:04 pm after touching an intraday high of 76,386. The NSE Nifty 50 climbed 259 points, or 1.09%, to 23,978 and hovered near the crucial 24,000 mark. The rally was led by financial stocks, with Nifty Bank surging 1.87% to 55,067 and Nifty Financial Services rising 1.82% to 25,995. Private lenders continued to witness strong buying interest, with HDFC Bank gaining 2.21%, Kotak Mahindra Bank rising 2.52%, Axis Bank advancing 1.39% and ICICI Bank climbing 1.12%. Bajaj Finance and Bajaj Finserv also gained over 2% and 1.8%, respectively. Among sectoral indices, Nifty PSU Bank emerged as the top performer, rallying 2.14%, while Nifty Private Bank gained 1.76%. Realty, chemicals, consumer durables and oil & gas indices also traded firmly in the green, indicating broad-based participation across sectors. Broader markets outperformed the benchmark indices, reflecting improving risk appetite among investors. Nifty Smallcap 100 rose 1.36%, Nifty Smallcap 250 advanced 1.25% and Nifty Microcap 250 jumped 1.65%. Nifty Next 50 also climbed 1.35%, while Nifty Midcap 100 gained 0.90%. Auto stocks remained strong despite some profit booking from morning highs. Mahindra & Mahindra rose 1.87%, while Maruti Suzuki gained 1.06%. Eternal was the top Sensex gainer, rallying 2.87%, followed by Kotak Mahindra Bank and Larsen & Toubro, which gained 2.37%. IT stocks also recovered during the session, with the Nifty IT index rising 0.61% after opening weak. Tech Mahindra gained 1.20%, while Infosys added 1.72%. However, TCS remained under pressure and declined 0.33%. Sun Pharma was another laggard, slipping 0.35%. Volatility indicators also signalled improving sentiment, with India VIX declining nearly 5% to 17.02, suggesting easing concerns over geopolitical risks and near-term market volatility. Market sentiment remained supported by a sharp correction in crude oil prices amid expectations of progress in negotiations between the US and Iran. Softer crude prices are being viewed as a major positive for India’s macroeconomic outlook as they reduce inflationary pressure, improve the current account outlook and support corporate margins in oil-sensitive sectors. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the decline in crude oil prices could become a turning point for the market if sustained. “We are starting the week on a positive note. Crude has dipped by $5 to below $100 on expectations that US and Iran are close to a deal. The market will wait and watch for clarity and certainty since many similar expectations have been belied since the start of the war. If this expected deal holds and crude drifts down, that can turn out to be turning point for the market." He added that stronger-than-expected March quarter earnings and appreciation in the rupee from recent lows are further supporting sentiment. According to him, the resilience shown by Indian equities despite geopolitical tensions reflects confidence in the strength of the domestic economy and sustained participation from local investors. Ponmudi R, CEO of Enrich Money, said easing crude oil prices and rupee appreciation are improving the near-term outlook for Indian equities. “Crude oil prices have corrected sharply and are currently trading in the $90–92 per barrel range. The decline in energy prices is being viewed as a significant positive for the Indian economy, as it eases pressure on the import bill, moderates inflation concerns and improves margin visibility across oil-sensitive sectors such as oil marketing companies, aviation, paints and chemicals." He noted that investors remain sensitive to developments surrounding the US-Iran negotiations, as any renewed geopolitical escalation could quickly reverse the recent decline in crude oil prices and weaken the improving risk sentiment across financial markets. Global Markets Asian shares mostly rose Monday and oil prices plunged after US President Donald Trump said talks on ending the war with Iran are progressing. Japan’s benchmark Nikkei 225 surged 3.1 per cent in morning trading to 65,321.56. Australia’s S&P/ASX 200 added 0.4 per cent to 8,692.70. The Shanghai Composite edged up 0.4 per cent to 4,127.53. Trading was closed in South Korea and Hong Kong for holidays marking Buddha’s birthday. Trading will be closed in the US on Monday for Memorial Day.

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