After opening higher, Indian benchmark indices rallied as the session progressed, ending the day strong.

The benchmark Indian equity indices continued their northward march for the 5th consecutive trading session and settled on a higher note on Monday, led by heavy buying across the banking, IT, and auto sectors.

At the closing bell, the BSE Sensex  closed higher by 855 points ( up 1.1%)

Meanwhile, the NSE Nifty closed points 273 higher ( up 1.2%)

HDFC Bank, Power Grid Corp, Tech Mahindra among the top gainers today

Adani Ports, ITC, Sun Pharma, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,133, higher by 328 points at the time of writing.

The BSE MidCap index ended 2.2% higher, and the BSE SmallCap index ended 1.7% higher.

Baring FMCG sector all sectoral indices were trading on a positive note with stocks in the auto sector and banking witnessing buying.

The rupee is trading at Rs 85.1 against the US$.

Gold prices for the latest contract on MCX are trading 1.6% higher at Rs 96.798 per 10 grams.

Meanwhile, silver prices were trading 0.8% higher at Rs 95.817 per 1 kg.

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

#1 Banking stocks lead the charge

Banking stocks led Monday's rally, with HDFC and ICICI Bank reaching new highs due to strong earnings and favourable government policies. The Reserve Bank of India's rate cuts and improved liquidity also supported the sector's growth. This boosted investor confidence in banking stocks.

#2 FII inflows provide further momentum

Foreign investors invested Rs 46.7 billion (bn) in Indian stocks, while domestic investors sold Rs 20.1 bn. India's strong economy and weak US dollar are drawing foreign investors to sectors like banking, telecom, and healthcare. Digital growth stocks may also gain, but IT sector could struggle.

#3 Weakening dollars lifts sentiment

The US dollar's fall can help India by making imports cheaper and attracting foreign investment. However, it might also make Indian exports less competitive if other currencies rise.

#4 U.S. tariff exemptions continue to support sentiment

US President Trump delayed imposing new tariffs on 75 countries, including India, until 9 July 2025. This decision relieved investors and helped Indian markets by reducing worries about trade disruptions and potential economic impact. It gave a boost to investor confidence and supported the market.
 

Gensol shares fall due defaults issue

In the news from the engineering sector, Gensol Engineering share price dropped by 5 % to Rs 111.65. This happened because there were rumours that the government might order an investigation into the company and its leaders for possible wrongdoing.

Gensol Engineering's shares fell for the 8th day in a row due to allegations that the company's promoters misused funds. When the company went public in 2019, the promoters owned 96% of the company, but now they own almost none.

According to Sebi, the company's sharp decline wasn't natural, but allegedly caused by fake information, fake transactions, and misused funds. This allowed the company's promoters to secretly sell their shares, leaving unaware investors with losses.

The company has raised Rs 0.18 billion (bn) through an IPO, but its promoter's ownership dropped sharply afterward, raising concerns. The government investigation aims to determine if the promoters misused company funds or manipulated finances.

The company's market capitalization is Rs 4.2 bn. The stock's 52-week high was Rs 1,125.8 per share, and its 52-week low was Rs 111.7 per share.

Strong earnings boost Just Dial shares

Moving on to the news from E-commerce sector, Just Dial share price jumped 13% on 21 April 2025, after the company announced 61% increase in the net profit to Rs 5.8 bn in FY25.

The company's financial results showed a strong growth a profit of Rs 1.6 bn in January-March quarter and a 9.5% increase in total revenue to Rs 11.4 bn for the year. Following the announcement, the company's share price surged on Monday.

The company's Q4 growth was driven by successful merchant acquisition to expand the company in urban and semi-urban areas. FY25 was a milestone year for Just Dial, with strong financials and improved local business engagement.

The company's promoter Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, owns 63.84% of Just Dial's shares.
 

Suzlon Gains on Wind Turbine Policy

Moving on to the news from energy sector, Suzlon company's share price rose 5% after the government announced plans to prioritize local sourcing of wind turbine components.

Suzlon Energy's stock price increased by 4.68% to reach Rs 57.7. the stock rising nearly 6% over the past two trading sessions.

According to the report, the ministry of new and renewable energy released a draft plan to boost local manufacturing of wind turbines. This move aims to increase use of domestic components and mandatory sourcing of key parts like blades, towers, gearboxes, and generators from local vendors.

On 17 April 2025, Suzlon Energy won an order from Sunsure Energy to supply 48 wind turbines with a capacity of 2.1 MW each for a project in Maharashtra's Jath region. Suzlon has installed 50GW of wind energy capacity so far.

More By This Author:

Sensex Today Trades Higher; Nifty Bank Hits All Time High
Sensex Today Rallies 1,509 Points; Nifty Above 23,800
Sensex Today Trades Flat; Nifty Below 23,400