Benchmark indices Nifty 50 and Sensex continued their upward spree for the second straight session on Monday, with Nifty 50 being just over 50 points from the all-important milestone mark of 26,000. The final session of the week was cheered by increased inflows of foreign funds, which came in the wake of an interest rate cut by the United States.

Sensex gained 384.30 points, closing at 84,928.61, while the Nifty 50 index rose 148.10 points to finish at 25,939.05.

All major sectoral indices reported gains on Monday except for IT stocks, which slipped 0.6% following a quiet session on Wall Street last Friday.

PSU banks led the gains on the Nifty 50 benchmark, advancing 3.3% to 6,847.50 points, while real estate, oil and gas, and auto stocks increased between 1.6% and 1.9%.

The Nifty Midcap 100 index rose by 503.60 points to reach 60,712.40, and the Nifty Bank index gained 313 points, closing at 54,105.80.

Telecom stocks Vodafone Idea and Indus Towers rose 3.7% and 3.8%, respectively, after Vodafone Idea secured a $3.6 billion deal with Nokia, Ericsson, and Samsung for network equipment.

Glenmark Pharma surged over 4% after its Aurangabad facility cleared a US FDA investigation. Amber Enterprises jumped more than 15% to an all-time high of Rs 5,187.95 after Jefferies maintained a “buy” rating with a target price of Rs 5,200.

Kalyan and PC Jewellers saw gains of over 5% as spot gold prices reached an all-time high. Fusion Micro dropped by 10% due to provisions for higher expected credit losses.

Central Depository Services Ltd. ended nearly 1% lower, breaking an 8-day gaining streak.

Feeling overwhelmed by the markets? Let Unicorn Signals be your guide. Our user-friendly app simplifies complex data and provides actionable trading signals. Download the app today and trade with confidence!