Mid-day updates: Sensex surges past 80,000 as mid-cap stocks shine

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Equity markets maintained strong momentum in Monday afternoon trading, with the benchmark BSE Sensex holding firmly above the psychologically crucial 80,000 mark. The 30-share index traded at 80,254.58, up 1,137.47 points or 1.44% from its previous close, while the broader NSE Nifty advanced 373.30 points or 1.56% to 24,280.55 at 12:30 PM.

The market breadth remained decisively positive, with 2,904 stocks advancing against 1,010 declining on the BSE. Notably, 191 stocks reached their 52-week highs, while 35 touched their yearly lows. The rally saw 391 stocks hitting upper circuits compared to 253 at lower circuits.

Mid-cap stocks outperformed the broader market, with the Nifty Midcap Select index surging 2.12% to 12,567.20. The Nifty Next 50 index posted even stronger gains of 2.45%, reaching 69,683.25.

Banking and financial services stocks continued their upward trajectory, with the Nifty Bank index rising 2.06% to 52,190.70 and the Nifty Financial Services index adding 1.92% to 24,077.90.

Among individual stocks, Bharat Electronics Ltd (BEL) led the gainers on the NSE, jumping 5.34%, followed by ONGC at 5.19%. Adani Enterprises advanced 4.28%, while infrastructure major Larsen & Toubro and State Bank of India both gained 3.98%.

On the downside, JSW Steel emerged as the top loser, declining 2.38%. IT majors showed weakness, with Infosys dropping 0.24% and HCL Technologies sliding 0.04%. HDFC Life registered a marginal decline of 0.01%.

The market’s strong performance was due to the BJP’s victory in the Maharashtra local elections and positive global market cues. Broad-based participation was evident in the trading activity, with 4,101 stocks being traded on the BSE.

The sustained buying interest across sectors, particularly in banking and midcap segments, reflected robust investor confidence. Technical indicators remained supportive, with analysts eyeing Nifty resistance levels between 24,400 and 24,800.