After opening higher, Indian benchmark indices extended their momentum throughout the session, ended with gains.

The BSE and the NSE benchmark indices settled with the highest gains in almost a year after easing in India-Pakistan tensions as the countries agreed to a ceasefire over the weekend following days of heavy drone attacks. The progress on US-China trade deal also boosted the market sentiment easing concerns about global trade war.

At the closing bell, the BSE Sensex  closed higher by 2,975 points (up 3.7%)

Meanwhile, the NSE Nifty closed points 916 higher (up 3.8%)

Infosys, Tata Steel, HCL Tech among the top gainers today

IndusInd Bank, Sun Pharma, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  25,045, higher by 955 points at the time of writing.

The BSE MidCap index ended 3.8% higher, and the BSE SmallCap index ended 4.2% higher.

Sectoral indices were trading positively today, with stocks in the IT sector anthe d realty sector witnessing the most buying.

The rupee is trading at Rs 85.4 against the US$.

Gold prices for the latest contract on MCX are trading 3.9% lower at Rs 92,675per 10 grams.

Meanwhile, silver prices were trading 2.3% lower at Rs 94,506 per 1 kg.

Here are the five key factors driving the market's momentum:

# 1 India-Pakistan ceasefire

The Indian markets rally due to India-Pakistan ceasefire, which eased tension and boosted investors confidence. This development is likely to be seen as positive, leading to a market recovery.

#2 US-China, US-UK trade deal

The US-China trade deal announcement improved global market sentiment, boosting Asian Markets including India's. News of potential further trade agreements and tariff reduction also lifted investors' confidence.

#3 India-UK FTA

The recent India-UK trade deal announcement is expected to benefit India's export-import business. Combined with the easing of India-Pakistan tension, this has boosted market sentiments.

#4 FII's Buying

Despite India-Pakistan tensions, the Indian stocks market remained strong due to continuous buying by foreign investors. The recent ceasefire announcement has sparked expectations of even more foreign investments, driving the markets upward trend.

#5 Strong AMFI data fuelling retail investor's sentiments

Mutual fund inflows through SIPs hit a record high of Rs 266.3 bn in April. This boosted retail investors sentiments. With India-Pakistan tension easing, domestic investors and retail investors invested heavily in stocks markets, expecting higher returns.
 

Hinduja Global Solutions shares Jumped 7%. Here's Why

In the news from IT sector, shares of Hinduja Global Solutions (HGS) surged 7% to Rs 509.9 per share on Monday. This momentum came after the company announced that it has opened a new AI- powered innovation centre in Waterloo, Ontario for digital customer experience and data analytics.

Hinduja Global Solutions expanded to Canada, marking a big step in digital innovation and creating quality jobs.

The company's new facility launching on 15 May 2025, will be a hub for digital customers engagement utilizing AI, automation and cloud solutions to enhance customer interactions and experience.

Savita Jones, HGS SVP stated that Waterloo is an idea location for HGS's expansion due to vibrant tech industry with over 1000 tech firms and collaborative environment that fosters innovation making it great fit for HGS next gen customers experience solutions.

Hinduja Global Solutions is a part of Hinduja Group and serves digital transformation, customer experience management and business process automation using AI and analytics.

The share price of the company has risen 3% in 5 days and 7% in a month. However, they dropped 32% in 6 months and 38% in a year.

Reliance Powers Share Price Jumps High

Moving on to the news from power sector, shares of Reliance Power jumped 12.5% at Rs 43.5 on Monday. This was after the company's subsidiary Reliance NU Energies won a big project. Additionally, the company released its Q4 results.

Reliance NU Energies a subsidiary of Reliance Power won a project for 350 MW of solar power and 175 MW/700 MWH of battery storage SJVN.

The new project will add 600 MW of solar power and 700 MWh of energy storage to Reliance Power's Portfolio. The company's clean energy projects now total 2.5 GW of solar power and over 2.5 GWh of battery storage.

Reliance power's subsidiary won a project with a tariff of Rs 3.3 per unit, fixed for 25 years. This a competitive price in India's renewable energy sector. The company is waiting for formal award letter from SJVN.

The company reported Q4 net profit of Rs 1.4 billion (bn) compared to Rs 3.9 bn last year. However, revenue dropped to Rs 19.7 bn from Rs 19.9 previous year.

Reliance Power led by Anil Ambani, is a major private power generation company in India. It operates power plant with a capacity of 5,305 MW including 3960 MW Sasan Power plant, which is India's top performing power plant.

More By This Author:

Sensex Today Rallies 2,300 Points; Nifty Above 24,700
Sensex Today Tanks 880 Points; Nifty Ends Below 24,050
Sensex Today Plunges 700 Points; Nifty Below 24,100