Indian equities continued their upward momentum for the third consecutive session on Monday, closing higher due to strong buying in banking, IT, and healthcare sectors. Gains in financials and technology stocks, along with renewed optimism in hospital shares, helped benchmarks remain firm despite pressure from metals and FMCG. The Sensex rose 583 points (0.7%) to 81,790, while the Nifty climbed 183 points to 25,078. Market breadth was negative, with 1,716 stocks advancing and 2,370 declining on the BSE, indicating selective buying.
Max Healthcare was the top Nifty gainer, rising 6.6% after the government revised CGHS rates for nearly 2,000 procedures. Shriram Finance gained 4% after strong Q2 updates. TCS, Tech Mahindra, and HCL Tech led IT gains ahead of results. Meanwhile, Tata Steel, Adani Ports, and ITC were among key laggards.
Sector-wise, Nifty IT surged 2.3%, and Nifty Bank rose 0.9%, driven by strong updates from HDFC Bank and Kotak Mahindra Bank. Healthcare stocks rallied on CGHS revisions, while defensives like FMCG and energy underperformed. Global cues remained positive, and the rupee strengthened to 88.74 per dollar.
