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Sensex Soars 680 Points, Nifty Tops 22,600 as IT, PSU Banks Lead Market Rally
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News18•05-10-2026, 09:54
Sensex Soars 680 Points, Nifty Tops 22,600 as IT, PSU Banks Lead Market Rally
- •Indian equity markets extended gains with Sensex up 683 points and Nifty above 22,600, driven by broad-based buying in banking, IT, financial, and consumer stocks.
- •IT stocks rebounded, with the Nifty IT index rising 1.43% following Accenture's positive outlook, while banking stocks continued to lead, with Nifty PSU Bank surging 1.98%.
- •Top Sensex gainers included Bajaj Finance, TCS, Axis Bank, Reliance Industries, Titan, and ITC, while BEL, Sun Pharma, Asian Paints, and HCLTech saw declines.
- •Broader markets remained positive, with Nifty Midcap 100 and Nifty Smallcap 100 both rising, indicating widespread buying interest.
- •Despite the rally, auto, pharma, and healthcare sectors remained under pressure, while India VIX declined, suggesting easing market volatility ahead of the RBI's monetary policy decision.
Key Questions Answered
The Sensex rose 683.29 points to trade at 72,592.99, while the Nifty jumped 188.60 points to surpass the 22,600 mark, trading at 22,610.55.
Banking, IT, financial, and consumer stocks led the market rally with strong gains, whereas auto and pharma shares remained under pressure.
Investors are anticipating a possible 25-basis-point repo rate hike by the RBI, driven by renewed concerns over inflation and global geopolitical risks.
