Stock Market Rally: Sensex Soars Over 800 Points, Nifty Approaches 24,000

Indian equity markets began the week on a strong note, with benchmark indices rallying more than 1% in early trade amid falling crude oil prices and upbeat global sentiment.

Strong buying across banking, auto, financial and oil & gas stocks lifted investor confidence, pushing the Sensex higher by over 800 points and taking the Nifty close to the 24,000 mark. The BSE Sensex opened sharply higher and climbed 850 points to 76,271.32 in early trade, while the NSE Nifty advanced 247 points to trade at 23,972.43 around 9:20 am.

The rally was broad-based, with most sectoral indices trading firmly in positive territory. Banking stocks led the gains, as the Nifty Bank index rose more than 1.4% to cross 54,800. Financial services shares also witnessed strong momentum during the opening session.

Auto stocks emerged as the top-performing sector in early trade, supported by strong buying interest across major counters. PSU banks, oil & gas and realty stocks also recorded healthy gains as investor sentiment improved across sectors.

The broader market remained upbeat as well, reflecting strong participation beyond frontline stocks. The Nifty Next 50, Midcap and Smallcap indices all traded higher by nearly 1%, indicating sustained risk appetite among investors. Meanwhile, the India VIX — commonly known as the market’s fear gauge — declined sharply, signalling easing volatility concerns.

Among the major gainers on the Sensex were Mahindra & Mahindra, Bajaj Finance, HDFC Bank, Infosys and ICICI Bank. A few stocks such as Sun Pharma and TCS, however, traded in the red during the early session.

One of the key triggers supporting the rally was the decline in crude oil prices, which eased to around $98 per barrel. Softer crude prices are considered beneficial for India as they help reduce inflationary pressures, improve fiscal balance and lower concerns related to the country’s import bill.

Market analysts said optimism also stemmed from expectations of easing geopolitical tensions in West Asia. According to V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, hopes surrounding a possible US-Iran agreement could improve global crude supply and further cool oil prices, providing support to emerging markets including India.