Mumbai, March 24, 2025 – The Indian stock market witnessed a strong rally on Monday, buoyed by gains in banking and real estate stocks after a proposed nationwide bank strike was called off.
At 12:45 PM, the BSE Sensex surged by 972.91 points (1.27%), reaching 77,878.42, while the NSE Nifty climbed 286 points (1.22%) to 23,636.40. The rally was fueled by renewed investor confidence, particularly in the banking sector, after the United Forum of Bank Unions (UFBU) withdrew its planned strike.
Among the Sensex stocks, NTPC was the top gainer, rising 4.36% to ₹366.45, followed by Kotak Mahindra Bank (up 4.24% to ₹2,172.75) and SBI (up 2.72% to ₹773.50).
Sectorally, the Nifty PSU Bank Index led with a 2.84% jump, reaching 6,305, followed by Nifty Private Bank, which climbed 2.46% to 25,852.65. The Nifty Realty Index also gained 2.01%, touching 880.10.
Bank Strike Called Off: What Led to the Decision?
The UFBU, an umbrella body representing over eight lakh bank employees across public, private, foreign, cooperative, and rural banks, had initially planned a two-day strike to press for recruitment drives, a five-day work week, withdrawal of performance reviews, enhanced job security, and amendments to the Gratuity Act.
However, following last-minute negotiations, the strike was called off, boosting sentiment in the banking sector and driving stock prices higher.
Early Trading Session: Positive Opening for Markets
The stock market started the week on a strong note, opening in the green as investors responded positively to gains in real estate, oil & gas, and media stocks.
At 9:15 AM, the BSE Sensex opened 481.79 points higher (0.63%), reaching 77,387.30, while the NSE Nifty gained 124.70 points (0.53%), touching 23,475.10.
Key early gainers included NTPC, which rose 2.15% to ₹358.70, Tata Motors (up 1.72% to ₹714.95), and Power Grid Corporation of India (up 1.38% to ₹286.90).
Among the sectoral indices, Nifty Realty was the top performer, rising 1.29% to 873.85, while Nifty Oil & Gas and Nifty Media saw slight declines.
Oil Prices Decline Amid Global Trends
Oil & gas stocks showed resilience despite global crude oil prices slipping. Brent Crude for May 2025 futures was down 0.46% to $71.83, while WTI Crude dropped 0.42% to $67.99.
Market Outlook: Investor Sentiment Turns Positive
With the banking sector stabilizing and broader economic factors remaining supportive, analysts expect continued positive momentum in the market. Investor focus will now shift to global trends and upcoming economic data releases for further cues on market direction.
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