Market Close: Late Surge Powers D-Street Higher As Banks Lead a Broad-Based Rebound

Mumbai, April 26:Indian equities flipped the script on Monday, shaking off early losses to close sharply higher, with a strong late-session rally lifting benchmark indices and restoring risk appetite, as optimism around a potential Iran-US ceasefire boosted sentiment and eased concerns over oil supply disruptions.

The BSE Sensex surged around 780 points or 1% to end around the 74,100 mark, while the Nifty 50 climbed around 250 points or over 1% to settle near 22,900, marking a decisive recovery after a weak start to the session.

Markets had opened on a cautious note, with both indices slipping amid elevated crude oil prices and persistent geopolitical tensions in the Middle East. By late morning, the Sensex was down over 350 points and the Nifty hovered near 22,600, reflecting nervous sentiment and global uncertainty.

However, the mood turned decisively in the second half, as improving sentiment around geopolitical developments triggered a broad-based buying wave. The rally gathered pace into the closing hours, with benchmarks hitting day’s highs in late trade.

Financials led the charge. The Bank Nifty jumped nearly 2%, with both PSU and private lenders seeing strong buying interest, providing the backbone for the index recovery.

Broader markets joined the party as well, outperforming the benchmarks. The Nifty Midcap 100 rose about 1.5%, while the Smallcap 100 gained over 1%, signalling improving risk appetite beyond frontline stocks.

Sectorally, the session saw a rotation from defensives to cyclicals. While IT stocks showed resilience earlier in the day, it was the financial pack that ultimately powered the rally, underscoring renewed confidence in domestic growth-linked sectors.

The day’s price action reflects a market still tethered to global cues but quick to latch onto positive triggers. Despite lingering concerns around oil and geopolitics, the sharp rebound from intraday lows suggests underlying strength—though volatility is likely to remain the defining theme in the near term.

Source:

• https://www.nseindia.com/
• https://www.bseindia.com/