Nifty reclaims 26,000, posting gains for sixth consecutive session

India’s benchmark indices extended their winning streak on Monday, with the market posting gains for the sixth straight session - the second such stretch in a month - as strong buying in financials, midcaps and select auto stocks supported sentiment.

The Nifty 50 reclaimed the 26,000 mark, rising 103 points to close at 26,013, while the Sensex added 388 points to finish at 84,951.

The broader market outperformed, with the Nifty Midcap index hitting a fresh record high, ending 445 points higher at 61,180, and the Nifty Bank climbing 445 points to a record 58,963.

Market breadth was largely neutral even as midcap names advanced nearly 1%, traders said.

Two-wheeler manufacturers were among the standout movers, with Hero MotoCorp jumping 4% to top the Nifty gainers’ list.

More than 30 Nifty stocks closed in the green, with Eternal also featuring among the top performers.

Max Healthcare advanced after upbeat commentary from the management in its post-earnings interaction.

In contrast, Tata Motors’ passenger vehicles unit slumped 5% following a weak second-quarter performance, making it the biggest Nifty loser for the day.

Siemens rallied 5% after the company reported a robust Q2 with revenue rising 16% year-on-year, while broking firms continued their strong run — Groww has now surged nearly 70% from its IPO price, lifting sentiment across the brokerage space. PB Fintech gained 5% on sustained buying interest, traders noted.

Among laggards, Mphasis dropped more than 3% after reports suggested a likely promoter stake sale. Glenmark Pharmaceuticals slipped 1% amid volatility following quarterly results that included several one-offs, while Narayana Health surged 17% after delivering a strong Q2 performance.

In the defence and drone manufacturing space, Ideaforge jumped 8% after securing an order from the Indian Army.