Stock markets end 5-day losing streak; BSE Sensex jumps 602 points, Nifty50 above 24,300- Top reasons – Times of India

Stock market today: Indian stock markets ended a five-day losing streak on Monday as upbeat quarterly results from ICICI Bank and other lenders powered gains in banking stocks, despite ongoing foreign selling and lackluster corporate earnings.
The BSE Sensex climbed 0.76 per cent or 602.75 points to close at 80,005.04, while the Nifty50 rose 0.65 per cent or 158.35 points to settle at 24,339.15.
Among the 30 Sensex stocks, ICICI Bank led the gains, climbing 3 per cent following its report of a 14.5 per cent increase in standalone profit to Rs 11,746 crore for the second quarter ending September 2024.
While other major gainers included JSW Steel, Mahindra & Mahindra, Adani Ports, Tata Steel, Sun Pharma, Hindustan Unilever, Tata Motors, and State Bank of India.
On the downside, Axis Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank, and Maruti were among the lossers.
The Indian rupee remained stable at 84.0775 against the US dollar, as expectations that the central bank would maintain its stance on the currency offset pressure from a strong dollar.
The market opened on a positive note, with the Sensex crossing the 80,000 mark and Nifty50 moving above 24,400.
During the intra-day trading session at 12.22 pm, the Sensex had surged to 80,433.23, up 1,030 points or 1.30 per cent, while Nifty50 reached 24,465.05, up 284.25 points or 1.18 per cent.