In a dramatic rebound, Indian stock markets witnessed their strongest single-day rally in over a year as benchmark indices surged sharply on Monday. The relief rally came on the heels of the much-anticipated ceasefire agreement between India and Pakistan (Sensex), which brought a wave of optimism to jittery investors.
The S&P BSE Sensex skyrocketed by 2,975.43 points, closing at 82,429.90, while the NSE Nifty50 leaped 916.70 points, ending the session at 24,924.70—its highest closing ever.
According to Aditya Gaggar, Director at Progressive Shares, “The market witnessed a strong bullish session as easing cross-border tensions brought relief to investors.” He further noted that the upbeat mood was supported by positive cues from US-China tariff talks, which added further fuel to the rally (Sensex).
Sector-Wide Euphoria
All sectors basked in green, with IT, Realty, and Metal leading the gains. The broader markets outperformed as Midcap and Smallcap indices surged over 4%, indicating widespread investor participation.
Technical analysts are noting the formation of a strong bullish candle on daily charts, suggesting momentum might continue. The rally also saw the Nifty50 breaking through multiple resistance levels in one swift move.
What Lies Ahead?
While the rally was impressive, analysts caution that the markets may now enter a short-term consolidation or pullback phase—often a natural breather after such a steep climb.
- Immediate resistance is seen at: 25,180
- Support level to watch: 24,770
This correction, if it occurs, could offer favorable entry points for investors who missed the initial breakout.
Source: India Today
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