Sensex soars 2100+ points as markets reopen for 1st time since ceasefire; Nifty hits record 24,561

Indian stock markets registered a significant rebound on Monday, with the Sensex soaring over 2100 points and the Nifty gaining 553.25 points to close at 24,561.25. This was the first trading session since the recent India-Pakistan ceasefire understanding, which brought a halt to active hostilities along the border.

Investor sentiment improved sharply following the cessation of cross-border kinetic conflict. The Indian futures market had earlier indicated a 2 per cent up-move, and trading began with strong momentum across key indices. Ajay Bagga, a banking and market expert, said, “Indian markets weathered the turbulence quite well and are set to recover smartly today.”

Sectoral indices showed strong performance, led by Nifty Realty which surged over 4 per cent in early trade. Nifty Auto rose 2.25 per cent, and Nifty IT gained 2.16 per cent. The rally was supported by renewed investor interest and inflows into equities as the border situation stabilised.

Pharmaceutical stocks, however, underperformed. The Nifty Pharma index declined by 1.3 per cent after the US President announced plans to sign an executive order to reduce prescription drug prices to levels paid by other high-income countries. Sun Pharma dropped 5.4 per cent, becoming the top loser on both the Nifty 50 and the pharma sub-index. Glenmark Pharma fell 0.4 per cent and Cipla declined 1.5 per cent.

On the global front, market cues remained positive. US and China concluded trade talks in Geneva over the weekend, describing them as productive and positive. Gold prices dropped by over 2 per cent, while oil prices and the US dollar strengthened. US stock futures pointed to gains of over 1 per cent, further contributing to positive investor outlook.