Stock Market Buzzes as Sensex Surges

Indian stock markets ended Monday's trading session on a strong note, with benchmark indices rising more than 1.3%. Easing international crude oil prices improved market sentiment, while Reliance Industries' better-than-expected second-quarter results boosted investor confidence. The Sensex surged over 1,200 points, while the Nifty crossed the 23,400 mark. The total market capitalisation of BSE-listed companies increased by more than Rs. 7 lakh crore, adding significantly to investors' wealth.

The Sensex opened at 75,178.24 points, compared with its previous close of 74,459.53, and maintained strong gains throughout the session. It eventually closed 1,233.25 points higher at 75,692.78, after touching an intraday high at the same level. The Nifty gained 387.70 points to settle at 23,440.80. Among the Sensex 30 stocks, Reliance Industries, Tata Steel, UltraTech Cement, SBI, NTPC and Maruti recorded notable gains. Infosys, Kotak Mahindra Bank, ICICI Bank, Sun Pharma, Axis Bank, Tech Mahindra and TCS were among the stocks that ended in the red. The rupee was trading at 94.90 against the US dollar.

Several factors supported the market rally. Reliance Industries shares rose nearly 7% following the company's encouraging second-quarter results. Reports of diplomatic efforts to end the conflict involving Iran also helped ease concerns over crude oil supplies and prices. Foreign institutional investors had purchased equities worth Rs. 3,598.54 crore in Friday's session, providing further support to the market. Positive trends in South Korean, Japanese, Shanghai and Hong Kong markets also lifted investor sentiment. Brent crude was quoted at $101.82 per barrel, while gold was trading at $3,897 per ounce.