Sensex, Nifty jump on banking boost, end 5-day losing streak

The S&P BSE Sensex added 602.75 points to close at 80,005.04, while the NSE Nifty50 gained 158.35 points to close at 24,339.15. 

Benchmark stock market indices closed higher on Monday, driven by gains in banking stocks with shares of ICICI Bank ending 3% higher.

The S&P BSE Sensex added 602.75 points to close at 80,005.04, while the NSE Nifty50 gained 158.35 points to close at 24,339.15.

Vaibhav Vidwani, Research Analyst, Bonanza, said that stock markets experienced a significant rebound in today’s market, with the Sensex surging by 602 points, closing at 80,005, and the Nifty climbing 158 points to settle at 24,339.

"This rally followed a five-day losing streak, largely driven by strong quarterly earnings from ICICI Bank and Bank of Baroda, which boosted investor sentiment. The current rally is encouraging, but ongoing foreign institutional selling and weaker corporate earnings could continue to pressure the market in the near term," he added.