Markets rally: Sensex, Nifty extend winning streak; Reliance, PSU banks lead gains

The Indian stock market ended in green on Monday, with benchmark indices extending their winning streak for the fourth consecutive day, buoyed by strong quarterly results from major lenders and a rebound in global risk appetite.The BSESensex settled at 84,363.37, rising 411.18 points or 0.49 per cent, while the NSE Nifty50 closed at 25,843.15, up 133.3 points or 0.52 per cent. Investors showed optimism in PSU banks, private banking, and oil and gas sectors, though consumer durables and metals faced some pressure. The Bank

Nifty

stole the spotlight, hitting a new all-time high for the second consecutive session, ending at 58,033.20, reflecting strong momentum in financials and investor confidence.Reliance Industries led gains among blue chips, climbing 3.52 per cent after reporting a 9.6 per cent year-on-year rise in net profit for Q2FY26, driven by retail, telecom, and oil-to-chemicals recovery. Bajaj Finserv, Axis Bank, SBI, TCS, Titan, and Bharti Airtel were also among the gainers, while ICICI Bank, Mahindra & Mahindra, Eternal, Adani Ports, and Power Grid lagged.Market experts attributed the rally to seasonal optimism ahead of

Diwali

and easing US-China trade tensions.

Sudeep Shah, head – technical and derivatives research at SBI Securities, was quoted by news agency ANI as saying, "As the festive spirit of Diwali fills the air with optimism and celebration, the Indian equity markets have mirrored the mood with a strong start to the week". Ponmudi R, CEO of Enrich Money, was quoted by news agency PTI as saying, "The Indian market extended its upward march on Monday, carrying forward the festive rally ahead of the Diwali Muhurat trading session".The markets will witness the symbolic Diwali Muhurat Trading session on October 21, marking the beginning of Samvat 2082. Analysts expect strong retail and institutional participation. The ongoing Q2FY26 earnings season will also guide sentiment, with companies including Colgate, HUL, Dr Reddy's Labs, SBI Life, Coforge, and Kotak Mahindra Bank scheduled to announce results.Globally, easing concerns over proposed US tariffs on China, movements in crude oil, and currency trends continue to shape investor sentiment. Brent crude dipped 0.29 per cent to $61.11 per barrel, while Asian markets, including South Korea, Japan, China and Hong Kong, settled higher.Overall, the combination of festive cheer, strong earnings and positive global cues helped the Indian market maintain its bullish momentum.