Sensex Rises 368 Points, Nifty Surges Above 24,500; IT Stocks Lead Rally

Indian equity benchmarks opened strong on Monday, buoyed by a rally in IT stocks and robust GDP data that indicated resilience in the economy despite global uncertainties, including U.S. tariff concerns.

At 9:35 am, the S&P BSE Sensex climbed 368.48 points to 80,178.13, while the NSE Nifty50 advanced 112.65 points to 24,539.50.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted two key developments influencing markets. “Globally, the U.S. court ruling declaring Trump’s tariffs illegal is significant, with the Supreme Court verdict awaited. Domestically, India’s Q1 GDP growth at 7.8% exceeded expectations,” he said.

Top Gainers and Losers
Among the leading performers, Infosys surged 1.90%, followed by Bajaj Finance (1.65%), Tech Mahindra (1.63%), Adani Ports (1.47%), and Power Grid (1.32%).
On the downside, Maruti Suzuki slipped 0.54%, Hindustan Unilever fell 0.53%, Sun Pharmaceutical declined 0.34%, Reliance Industries eased 0.30%, and ITC edged down 0.12%.

Broader Market and Sectoral Performance
The Nifty Midcap100 rose 0.82% and the Nifty Smallcap100 gained 0.67%. Volatility index India VIX was up 0.48%.
Among sectoral indices, Nifty IT led gains with a 1.56% rise, followed by Nifty Consumer Durables (0.97%), Nifty Metal (0.64%), Nifty Private Bank (0.53%), and Nifty Financial Services (0.47%). Nifty FMCG was the only laggard, slipping 0.24%.
Other notable moves included Nifty Auto (0.42%), Nifty Healthcare (0.33%), PSU Bank (0.57%), Realty (0.17%), and Oil & Gas (0.02%). Nifty Media remained unchanged.

Market Outlook
Vijayakumar noted that fiscal stimulus from the Union Budget and monetary measures by the Monetary Policy Committee are supporting market momentum. “The proposed GST reforms and strong liquidity inflows into mutual funds are likely to sustain this rally in the coming quarters,” he added.