MUMBAI, INDIA—Indian equity benchmarks staged a strong recovery today, snapping a six-day winning streak with a decisive surge led by the Information Technology (IT) and Public Sector Undertaking (PSU) Bank sectors. After a muted start, the market regained bullish momentum, with the BSE Sensex closing up by over 513 points (0.61%) at 85,186.47, and the Nifty 50 finishing comfortably above the crucial 26,000 mark at 26,052.65.

IT and PSU Banks Drive the Gains

The significant market upswing was sectoral in nature, indicating targeted investor interest:

• IT Sector Surge: The Nifty IT index was the top gainer, jumping nearly 2.9%. This rally was propelled by positive updates from major players, including HCL Technologies (up 4.19%), Infosys (up 3.74%), and TCS (up 1.94%). Investor optimism stems from the anticipated execution of large new deals and favorable global sentiment towards AI-focused technology spending.
• PSU Bank Momentum: The Nifty PSU Bank index rose by 1.16%, continuing its bullish run. This momentum is sustained by ongoing market buzz about the government’s renewed plans for a major consolidation and merger of PSU banks, aiming to create fewer, larger institutions.
• Top Performers: Overall gainers included Max Healthcare (MAXHEALTH), which saw a sharp jump, reinforcing the positive outlook on the healthcare sector.

Budget Consultations and Trade News

While the markets reacted strongly to corporate fundamentals, the financial ecosystem was busy with high-level policy discussions:

• Pre-Budget Consultations: Finance Minister Nirmala Sitharaman chaired a series of pre-Budget consultations in New Delhi, meeting with experts from the Banking, Financial Services, and Insurance (BFSI) sectors, as well as the Startup ecosystem, ahead of the forthcoming Union Budget 2026-27.
• Trade Analytics Launch: Union Minister Piyush Goyal launched the Trade Intelligence and Analytics (TIA) Portal to help businesses monitor and analyze global trade data, aiming to boost India’s exports.

The market’s positive close on strong volumes signals renewed confidence, particularly in sectors where structural reforms and large-scale digital trends promise sustained growth.

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