Banking stocks rally 1.5% as PSU lenders lead; broader markets pause after six-day bull run

MUMBAI Banking stocks outperformed the broader market trend on Monday, with the Nifty Bank surging 1.5%, even as benchmark indices ended marginally higher amid profit-booking following a six-session rally. The Nifty 50 settled at 25,044.65, up 0.23%, while the Sensex gained 0.13% to close at 81,106.58.

Market activity remained largely subdued after last week’s sharp rally, with investors turning cautious at higher levels. “Indian equities are likely to consolidate in the near term as investors book profits after the sharp rally of over 10% in seven sessions,” said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services.

Stock markets end marginally lower in special Muhurat trading, snapping seven-day rally Stock markets end marginally lower in special Muhurat trading, snapping seven-day rally In the 30 Sensex firms, Mahindra & Mahindra, InterGlobe Aviation, Trent, Infosys, Bharti Airtel and Axis Bank were among the biggest laggards.