Markets rally on strong domestic sentiment

Bank Nifty hits a record intra-day, surpassing the 57,000 level

- KISHOR KADAM

BENCHMARK EQUITY INDICES continued their winning streak for the fourth consecutive session on Monday, cheered by the Reserve Bank of India's surprise 50 bps rate cut and liquidity infusion and supported by positive global cues.

The week opened on a strong note, with the BSE Sensex rising 256.22 points or 0.31% to close at 82,445.21, while the NSE Nifty 50 gained 100.15 points or 0.40% to settle at 25,103.20.

The banking sector led the rally, with the Nifty Bank index hitting an all-time intraday high above the 57,000 mark for the first time, supported by strong performances from Kotak Mahindra Bank, Axis Bank, IndusInd Bank, and Bajaj Finance. The Bank Nifty closed at 56,839.60, up 261.20 points or 0.46%. The Nifty PSU Bank Index rose 1.52%, while the Nifty Private Bank Index gained 1.03%.