Market rally extends to 6th session, Nifty surpasses 23,650

The domestic share market continued its upward momentum from the previous week, gaining over 1% on Monday, as the Nifty touched an intraday high of 23,700, driven by broad-based buying and optimism over potential adjustments in President Trump's tariff strategy. At close, the Sensex was up 1,078.87 points or 1.4 percent at 77,984.38, and the Nifty was up 307.95 points or 1.32 percent at 23,658.35.
Kotak Mahindra Bank, NTPC, SBI, Power Grid Corp, Tech Mahindra were the top gainers on the Nifty,while losers included M&M, Titan Company, IndusInd Bank, Trent, Bharti Airtel.On the sectoral front,all the sectoral indices ended in the green with bank, capital goods, IT, oil & gas, power, realty, PSU Bank rose 1-3 percent. BSE Midcap and Smallcap indices added more than 1 percent each.
Rupee Close:
On 24 Mar'25,Rising for the seventh straight session,the Indian rupee appreciated 31 paise to close at 85.67  against the US dollar on Monday, wiping off all its losses in 2025, supported by a positive trend in domestic equity markets and fresh foreign capital inflows.Besides, lower global crude price levels and continuing weakness in the greenback also bolstered sentiments, forex traders reportedly stated.However, lurking risks ranging from liquidity constraints to reciprocal tariff implementations continue to pose challenges for the local unit, they added.
Trading Guide:
Prashanth Tapse, Senior VP (Research), Mehta Equities reportedly quoted as saying,short covering ahead of monthly F&O expiry later this week fuelled the rally as Sensex breached the psychological 78k mark intra-day on across-the- board buying. Renewed optimism by foreign investors after a sharp fall in local currency coupled with strong US and European market cues further bolstered the sentiment. Also, the moderating domestic inflation and hopes of further cuts in interest rates have temporarily offset the concerns of tariff-related global uncertainty.

( Business Correspondent)