Stock markets snap 3-day decline; Sensex jumps 319 pts on gains in IT shares
Mumbai (PTI): Benchmark stock indices Sensex and Nifty bounced back on Monday after three straight days of losses following buying in IT and financial shares and a rally in global peers after a breakthrough in the US government shutdown.
The 30-share BSE Sensex benchmark climbed 319.07 points, or 0.38 per cent, to close at 83,535.35. In the intraday session, the index rallied 538.21 points, or 0.64 per cent, to hit a high of 83,754.49.
The NSE Nifty advanced 82.05 points, or 0.32 per cent, to settle at 25,574.35. During the day, it climbed 161.15 points or 0.63 per cent to hit an intraday high of 25,653.45.
Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Asian Paints, Tata Motors Passenger Vehicles, Tata Consultancy Services, Bharti Airtel, Titan, Bajaj Finserv, Reliance Industries and Larsen & Toubro were the gainers.
Trent Ltd, Eternal, Power Grid, UltraTech Cement, Mahindra & Mahindra, Axis Bank, State Bank of India, Adani Ports, Hindustan Unilever and NTPC were the laggards.
"The potential resolution of the US government shutdown, coupled with renewed FIIs buying driven by a favourable Q2 earnings season, supported a positive sentiment in the market. The rise in the US 10-year Treasury yield reflects improving risk sentiment toward equities with the reopening of the federal government," Vinod Nair, Head of Research, Geojit Investments, said.
Domestically, strengthening macroeconomic indicators are expected to underpin upward revisions in earnings estimates for H2FY26. This reinforces the current valuations and is likely to attract incremental liquidity, Nair added.
The BSE midcap gauge went up by 0.62 per cent, while smallcap ended 0.28 per cent lower.
Focussed IT climbed 1.66 per cent, followed by information technology by 1.57 per cent, Teck by 1.43 per cent, Capital Goods by 1.24 per cent, Industrials by 0.66 per cent, Consumer Durables 0.62 per cent, Metal by 0.51 per cent and Energy by 0.36 per cent.
On the other hand, Utilities slipped by 0.36 per cent, Realty (0.29 per cent), Services(0.25 per cent), Consumer Discretionary (0.13 per cent), FMCG (0.11 per cent), and Telecommunication (0.09 per cent).
A total of 2,372 stocks declined while 1,962 advanced and 179 remained unchanged on the BSE.
"Sentiment improved as foreign investors turned buyers again after six days of selling. Global cues also supported the move, as progress toward avoiding a US government shutdown boosted investor confidence," Bajaj Broking Research said in a note.
In Asian markets, South Korea's Kospi closed 3.02 per cent higher, Hong Kong's Hang Seng rose 1.55 per cent, Japan's Nikkei 225 index went up 1.33 per cent, and Shanghai's Composite Index finished 0.53 per cent.
Markets in Europe were trading mostly higher. The US markets ended largely higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,581.34 crore on Friday, while Domestic Institutional Investors outnumbered the FIIs by acquiring the stocks worth Rs 6,674.77 crore, according to the exchange data.
On Friday, the 30-share BSE Sensex declined 94.73 points to settle at 83,216.28. The 50-share NSE Nifty dipped 17.40 points to 25,492.30.
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Karnataka's BioEconomy reaches USD 39.2 billion, says report
Bengaluru (PTI): Karnataka's BioEconomy has reached USD 39.2 billion in 2025, marking strong growth from previous years and reaffirming the state's leadership position nationally, according to an official report released on Monday.
The Karnataka Innovation and Technology Society (KITS), under the Department of Electronics, IT, Biotechnology and Science & Technology, unveiled the Karnataka BioEconomy Report 2025 in collaboration with the Association of Biotechnology Led Enterprises.
The report that was released by IT Minister Priyank Kharge stated that the state contributes around 21 per cent of India's BioEconomy and accounts for over 10 per cent of Karnataka's GSDP.
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According to the report, the BioEconomy has expanded from USD 31.0 billion in 2023, reflecting 26.5 per cent cumulative growth, and is now adding nearly USD 10 billion every quarter to the state's GDP.
BioPharma remains the anchor with over 40 per cent share (about USD 16.44 billion), driven by biologics, biosimilars, vaccines and diagnostics, it said.
"BioIndustrial biotechnology has emerged as the fastest-growing segment (about USD 11.46 billion, around 29 per cent share), led by fermentation-based industries, biofuels, enzymes and sustainable materials," the report stated.
BioServices accounts for about 25.8 per cent share, while BioAgri contributes to sustainable agriculture and input innovation, it added.
The report said BioEconomy growth is becoming increasingly multi-regional. While Bengaluru Urban accounts for about 54 per cent of the state's BioEconomy, Mysuru contributes around 8.7 per cent, while Belagavi and Dakshina Kannada together account for over 9 per cent. Northern districts remain the Agri-biotechnology belt.
As many as 218 new biotech startups were added in 2025, taking the cumulative total to 1,451 startups, with over 75 per cent focused on life sciences and health-tech. Bengaluru accounts for about 54 per cent of startups, it stated.
Between January 2024 and October 2025, the report stated that Karnataka attracted USD 1.14 billion across around 40 deals spanning BioPharma, MedTech, precision fermentation, digital health and AgriBio.
Minister Kharge said, "With our BioEconomy crossing USD 39 billion and contributing over 10 per cent to our GSDP, biotechnology is no longer confined to laboratories - it is now a central driver of economic growth, industrial innovation and societal impact."
He said that the state government's focus is on building a full-spectrum biomanufacturing economy by supporting deep-tech startups, strengthening innovation infrastructure, and ensuring that growth reaches beyond Bengaluru to every region of the state.
