Stock Market Today: Nifty Crosses 24,800, Sensex up 650 Points; Maruti Soars 9% - 5 Key Points
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The Indian stock market opened the week with a strong rally, as benchmark indices ended firmly in the green on Monday. The Sensex climbed 0.84% to close at 81,273.75, while the Nifty jumped 1% to settle at 24,876.95. The Nifty Bank too joined the uptrend, finishing 0.71% higher at 55,734.90.
Twin triggers fuel optimism
The rally was driven by two major developments. Prime Minister Narendra Modi, in his Independence Day address, called on states to cooperate on key GST reforms before Diwali, sparking hopes of smoother tax policies. Adding to the momentum, S&P Global Ratings upgraded India’s sovereign credit rating to BBB from BBB-, the first such upgrade since 2007. The rating agency cited robust economic growth, steady fiscal consolidation, and stronger policy credibility.
Autos lead the charge
Auto stocks were the clear winners of the day. The Nifty Auto index soared over 4%, with every constituent stock ending higher. Maruti Suzuki was the star performer, rallying 9% on strong buying interest. Mahindra & Mahindra also posted notable gains, alongside Bajaj Finance, UltraTech Cement, and Bajaj Finserv, each rising between 4–5%.
Rally spreads across sectors
Buying was broad-based, extending beyond autos. FMCG and financial services advanced nearly 2%, while consumer durables jumped close to 3%. Metals too edged up around 1%. Broader markets reflected the upbeat sentiment, with the BSE MidCap and SmallCap indices climbing nearly 500 points each.
A few laggards
Despite the bullish tone, some heavyweight counters ended lower. L&T, Tech Mahindra, ITC, Eicher Motors, and Infosys slipped around 1% each, preventing the indices from logging even bigger gains.
The road ahead
With policy clarity on GST and the ratings upgrade acting as confidence boosters, investors turned optimistic on India’s growth story. As the festive season approaches and global cues remain supportive, markets may continue to build on this momentum in the near term.
Twin triggers fuel optimism
The rally was driven by two major developments. Prime Minister Narendra Modi, in his Independence Day address, called on states to cooperate on key GST reforms before Diwali, sparking hopes of smoother tax policies. Adding to the momentum, S&P Global Ratings upgraded India’s sovereign credit rating to BBB from BBB-, the first such upgrade since 2007. The rating agency cited robust economic growth, steady fiscal consolidation, and stronger policy credibility. Autos lead the charge
Auto stocks were the clear winners of the day. The Nifty Auto index soared over 4%, with every constituent stock ending higher. Maruti Suzuki was the star performer, rallying 9% on strong buying interest. Mahindra & Mahindra also posted notable gains, alongside Bajaj Finance, UltraTech Cement, and Bajaj Finserv, each rising between 4–5%.Rally spreads across sectors
Buying was broad-based, extending beyond autos. FMCG and financial services advanced nearly 2%, while consumer durables jumped close to 3%. Metals too edged up around 1%. Broader markets reflected the upbeat sentiment, with the BSE MidCap and SmallCap indices climbing nearly 500 points each. A few laggards
Despite the bullish tone, some heavyweight counters ended lower. L&T, Tech Mahindra, ITC, Eicher Motors, and Infosys slipped around 1% each, preventing the indices from logging even bigger gains.The road ahead
With policy clarity on GST and the ratings upgrade acting as confidence boosters, investors turned optimistic on India’s growth story. As the festive season approaches and global cues remain supportive, markets may continue to build on this momentum in the near term. Next Story