Mumbai, Nov 25: Indian stock indices closed with notable gains on Monday, extending their early momentum and marking a strong start to the week.
This surge helped recoup some of the recent losses in the market. Over the past two days, investors saw their wealth increase by Rs 14.20 lakh crore, as the equity market witnessed an impressive rally, with the BSE benchmark Sensex rising nearly 4 percent.
The Sensex finished at 80,109.85 points, up 992.74 points or 1.25 percent, while the Nifty closed at 24,221.90 points, gaining 314.65 points or 1.32 percent. All sectoral indices ended in the green, with Nifty Bank, PSU Bank, Realty, and Oil & Gas sectors standing out as the top performers.
Despite the strong gains, the Sensex remains approximately 6,000 points below its all-time high of 85,978 points. Recent periods of market weakness have been attributed to factors such as fund outflows, disappointing Q2 earnings from Indian companies, and persistently high inflation.
However, the results of key state elections have lifted investor sentiment, raising expectations of stable government spending in the latter half of the 2024-25 fiscal year. This positive domestic outlook, coupled with the BJP's strong electoral performance and its alignment with growth-focused policies, has bolstered investor confidence, supporting hopes for a market recovery despite ongoing challenges.
