Daijiworld Media Network - Mumbai

Mumbai, Dec 22: Indian stock markets ended Monday on a robust note, continuing the momentum from the previous session, even as global cues remained mixed. Strong buying in information technology and metal stocks, coupled with optimism over the India–New Zealand free trade agreement, supported the rally.

The Sensex rose 638.12 points, closing at 85,567.48, while the Nifty gained 195.20 points to settle at 26,161.60, marking a 0.75 per cent rise for both indices. Analysts noted that Nifty’s breakout above the 26,050–26,100 zone confirmed a double-bottom pattern, reinforcing the ongoing uptrend. “As long as the index holds above the 25,950–26,000 support band, the broader structure remains bullish. A decisive close above 26,200 could open the path toward 26,300–26,500,” they said.

On the BSE, Trent, Infosys, and Bharti Airtel were the top gainers, reflecting strong investor interest, while State Bank of India, Kotak Mahindra Bank, and Larsen & Toubro weighed on the index. On the NSE, Trent, Shriram Finance, and Wipro led the gains, while HDFC Life Insurance, Tata Consumer Products, and SBI dragged the index lower.

The broader market also participated in the rally, with the Nifty SmallCap 100 up 1.17 per cent and the Nifty MidCap 100 rising 0.84 per cent. Sector-wise, IT stocks outperformed, with the Nifty IT index climbing 2.06 per cent, while metal stocks gained 1.41 per cent. The only sector to end in the red was Nifty Consumer Durables, which slipped 0.16 per cent.

Market observers highlighted that positive sectoral performance and improving investor sentiment drove the gains. However, they cautioned that uncertainties around trade negotiations, geopolitical tensions, and crude oil volatility continue to pose risks.