NIFTY50 reclaims 24,000, SENSEX jumps over 400 points; Sun Pharma, Adani Ports and JSW steel top gainers

Indian equity markets made a positive start on Monday, supported by strong global cues despite the breakdown of peace talks between Iran and the US after Trump refused to send envoys to Islamabad, Pakistan. However, some cautiousness prevailed amid continued foreign fund outflows, as foreign institutional investors (FIIs) offloaded shares worth ₹8,827.87 crore on Friday.

Apart from other major geopolitical triggers, markets have also taken cognisance of the conclusion of the three-day trade deal negotiation talks between the US and India. Both countries agreed to continue the momentum and engage in talks.

The NIFTY50 opened nearly 50 points higher at 23,945 and extended the gains to 140 points in the first few minutes of the trading session on Monday. Among the top gainers, Sun Pharma (+4%), Adani Ports (+2.6%), JSW Steel (+2.5%), Wipro (+2.1%) and Kotak Mahindra Bank (+2.0%) are the top five gainers. Meanwhile, gains in HDFC Bank, Infosys, and LT also contributed to morning gains. On the flipside, Axis Bank (-4%), Shriram Finance (-3.4%), and BEL (-0.2%) were the top losers.

SENSEX opened over 400 points higher to trade at 77,049. 27 out of 30 stocks in the index traded in green and three traded in red, with Axis Bank as the top loser.

The broader market activity remained in favour of advances as 2,257 stocks traded in green and 449 stocks traded in red on Monday morning. The NIFTY Midcap 100 jumped 0.65%, and the NIFTY Smallcap 100 jumped over 1.4% on Monday morning, outperforming the benchmark gains.

Stock-specific developments

Shares of Reliance Industries opened flat on Monday morning, reacting to its Q4FY26 results. Its net profit came in at ₹16,971 crore for Q4FY26 as compared with ₹19,407 crore earnings in the same period a year back. The shares opened more than 1% lower at ₹1,313 apiece, quickly swinging back into green to trade near ₹1,333 apiece.

Paytm's share price plunged over 5% on Monday morning after the RBI cancelled its payment bank license. The company said Reserve Bank of India's action on Paytm Payments Bank Ltd (PPBL) has no financial or business impact on the company.

Shares of Sun Pharmaceuticals were the top gainer on Monday morning after the company announced an important acquisition. The company entered into a definitive agreement to acquire Organon in an all-cash transaction at $14 per share at an enterprise valuation of $11.7 billion.