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The Indian stock market finished with significant gains on Monday, December 22, amid a rebound in the Indian rupee and positive global cues. Extending gains to the second consecutive session, the Sensex ended 638 points, or 0.75%, higher at 85,567.48, while the Nifty 50 closed at 26,172.40, gaining 206 points, or 0.79%. The BSE Midcap index rose by 0.86% and the Smallcap index jumped 1.12%. Investors earned about ₹4 lakh crore in a single session as the market capitalisation of BSE-listed firms rose to ₹475 lakh crore from ₹471 lakh crore in the previous session.

Infosys, Bharti Airtel, and ICICI Bank were among the top contributors to the gains in the benchmarks.

Only three stocks- SBI, Kotak Mahindra Bank, and Larsen and Toubro- ended in the red in the Sensex index.

The market rebound has been driven by a recovery in the rupee and fresh foreign capital inflows. The Indian rupee, which fell to a record low breaching the 91 mark against the US dollar last week, ended 3 paise lower at 89.70 per dollar on Monday.

Positive global cues amid rising expectations of additional rate cuts by the US Federal Reserve next year also boosted sentiment.

"Indian markets extended their year-end rally, supported by strong liquidity and global cues, as expectations of further Fed easing in 2026 continue to underpin growth. FIIs turned net buyers, reinforcing the positive tone, with IT and metals leading gains," said Vinod Nair, Head of Research, Geojit Investments Limited.

As many as 38 stocks ended higher in the Nifty 50 index, among which Trent (up 3.86%), Shriram Finance (up 3.67%), and Wipro (up 3.10%) ended as the top gainers in the index.

HDFC Life Insurance Company (down 0.71%), Tata Consumer (down 0.64%), and SBI (down 0.59%) ended as the top losers in the index.

Barring Nifty Consumer Durables (down 0.16%), all sectoral indices ended higher, with Nifty IT jumping 2.06%, followed by Nifty Metal (up 1.41%).

Nifty Bank ended 0.40% higher at 59,304, while the Financial Services index climbed 0.37%.

Vodafone Idea (104.3 crore shares), Davangere Sugar Company (21.20 crore shares), and Groww (16 crore shares) were the most active stocks in terms of volume on the NSE.

Quadrant Future Tek, Jupiter Wagons, Bharat Immunologicals, Ideaforge Technology, Sadbhav Engineering, and Niraj Cement Structurals were among the 18 stocks that surged more than 15% on the BSE.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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