Sensex gains 291 points; Nifty closes above 24,100.
IT, pharma and energy stocks drive broad-based market rally.
Lower crude prices and US-Iran talks support sentiment.
Indian benchmark indices ended on a positive note on Monday, with the Nifty closing above the 24,100 mark as buying interest in technology, pharmaceutical and energy stocks offset weakness in FMCG and consumer durables shares.
The Sensex rose 291.17 points, or 0.38%, to close at 77,094, while the Nifty 50 gained 89.80 points, or 0.37%, to settle at 24,102.90.
1 June 2026
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Among the top gainers on the Nifty were Cipla, Dr Reddy's Laboratories, Tech Mahindra, Reliance Industries and Sun Pharma. On the losing side, Asian Paints, Titan Company, Nestle India, Trent and Shriram Finance ended lower.
Most Sectoral Indices End In Green
Sectoral participation remained broad-based, with all major indices ending in positive territory except FMCG and consumer durables.
Media, IT, metal, pharma, auto and energy indices gained between 0.5% and 1%, reflecting improving risk appetite after last week's IT-led correction.
The broader market also remained firm. The Nifty Midcap index rose 0.3%, while the Nifty Smallcap index gained 0.5%, extending their recent outperformance against benchmark indices.
Investor sentiment continued to draw support from lower crude oil prices and hopes of easing geopolitical tensions in West Asia.
Crude oil traded around $75-$76 per barrel in international markets, well below levels seen during the peak of recent geopolitical concerns. A joint statement from Qatar and Pakistan said the first round of US-Iran negotiations had concluded with progress on a roadmap aimed at reaching a final agreement within 60 days.
Lower crude prices are viewed as a positive for India as they help ease inflationary pressures, improve the current account balance and support corporate profitability.
Rupee Weakens Despite Lower Oil
The Indian rupee, however, ended weaker despite softer crude prices. The domestic currency depreciated by 35 paise to close at 94.68 against the US dollar, compared with Friday's close of 94.33.
According to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, the positive impact of lower oil prices was offset by a stronger US dollar index and continued demand for dollars in the market.
He noted that the rupee remained under pressure despite Brent crude falling nearly 1.3%, adding that the currency is expected to trade in the 94.25-95.25 range in the near term, with movements in the dollar index, crude prices and foreign fund flows remaining key triggers.
Monsoon Progress Remains In Focus
Vinod Nair, Head of Research at Geojit Investments, said markets traded in a narrow range with a positive bias as investors continued to monitor developments in US-Iran negotiations.
He noted that utilities, banking and healthcare stocks outperformed as investors adopted a more selective, stock-specific approach. However, concerns over the slow progress of the monsoon remain a key risk, as they could stoke inflationary pressures and weigh on consumer demand, particularly in agriculture-linked sectors.
Despite these near-term concerns, Nair said the broader market outlook remains constructive, supported by resilient earnings growth and continued policy support.
