Sensex Surges 787 Points as Crude Retreat and Bank Buying Boost Markets

Indian equity markets experienced a volatile session on Monday, with benchmark indices recovering sharply after early losses as crude oil prices softened amid reports of ceasefire efforts in the ongoing West Asia conflict. The 30-share BSE Sensex jumped 787.30 points , or 1.07 percent, to settle at 74,106.85 , while the 50-share NSE Nifty rose 255.15 points , or 1.12 percent, to end at 22,968.25 . During the day, the Sensex touched an intraday high of 74,207.46.

Investor sentiment was bolstered by intense buying in banking stocks and value buying across sectors, even as concerns over persistent inflation and potential disruptions to global trade kept overall risk appetite cautious . Among Sensex constituents, Trent led the gains with a 7.89 percent jump , followed by Axis Bank, Titan, Larsen & Toubro, UltraTech Cement and Bajaj Finance . Reliance Industries, HCL Tech and Sun Pharma were the major laggards.

Global crude benchmark Brent crude declined 0.71 percent to USD 108.3 per barrel , easing some pressure on rate-sensitive segments . Asian markets saw mixed performance , with South Korea’s Kospi and Japan’s Nikkei 225 ending higher, while Hong Kong and Shanghai markets remained closed for holidays. Analysts said domestic equities staged a strong rally as provisional banking data encouraged buying, while a modest pullback in crude provided additional support.

Ponmudi R, CEO of Enrich Money , noted that the recovery was primarily driven by Brent crude slipping below USD 105 amid reports of a proposed temporary ceasefire , with domestic institutional investors absorbing selling pressure to support the broader market structure. Data showed that foreign institutional investors (FIIs) offloaded equities worth Rs 9,931.13 crore on Thursday, while domestic institutional investors (DIIs) purchased stocks worth Rs 7,208.41 crore . On Thursday, the Sensex had closed higher by 185.23 points at 73,319.55, and Nifty had ended at 22,713.10, up 33.70 points.

Market analysts cautioned that while the near-term trend remains volatile , indices are likely to trade in a range-bound manner with support and resistance levels influenced by crude oil movements, global developments and domestic institutional flows .