Sensex, Nifty rally sharply, breaking five-day losing streak

The Sensex and Nifty rallied sharply on Monday, breaking a five-day losing streak.

The Sensex ended the day at 76,835.78, up 776.29 points or 1.02 per cent. The Nifty closed at 23,995.95, up 229.40 points, or 0.96 per cent.

The rally was fuelled by a sharp fall in crude oil prices after the United States and Iran paused military strikes, easing fears of an extended conflict.

IT and bank stocks led the charge, with Eternal and IndiGo among the top gainers of the session.

The advance built on gains already seen at the market’s open earlier in the day.

The bounce-back follows five straight sessions of losses linked to an earlier surge in crude oil prices.

(Image: Niyantha Shekhar (CC BY 2.0))