The stock market started the week with a strong rise. Sensex jumped 340 points and Nifty opened above 26,000 with a rise of 115 points. The IT index rose by more than 1%. Sensex opened 216 points at 85,145. Nifty opened 89 points at 26,055. Bank Nifty opened 155 points higher at 59,224, and in the forex market, the rupee opened 27 paise lower at 89.54/$. Metals, media, consumer durables, auto and NBFC sectors also saw growth. In the Nifty 50, Shriram Finance, Infosys, Hindalco, Tata Steel, Wipro, Tech Mahindra and Grasim were among the top gainers. Only SBI Life, M&M, UltraTech Cement and Power Grid saw decline. Market sentiment looks strong on Monday ahead of the start of the new trading week. On Friday, continued buying by foreign and domestic investors, a rise in US tech stocks and record levels in commodity markets supported sentiment. Meanwhile, unusual movements in Infosys ADRs remain the major topic of discussion in the market. Paranormal Volatility in Infosys ADRs On Friday, Infosys ADRs saw their biggest ever intraday surge, with the share price rising as much as 57% at one point. Trading had to be halted twice due to this intense movement. By the end of the day, however, ADR closed with gains of only about 5%. The company explained that there was no major news or development to report on this move, so the reason for the surge remains a mystery. The market got support from strong buying by FIIs and DIIs. Foreign institutional investors continued their purchases in the cash market for the third consecutive day. On Friday, FIIs made net purchases of around Rs 6,744 crore in cash, index and equity futures. Domestic institutional investors also kept their faith, investing nearly ₹5,700 crore in the market for the 80th consecutive day. This strong investment is seen as a big positive sign for the market. GIFT Nifty rose on strong global cues. Talking about global cues, GIFT Nifty traded around 26,180 with a gain of around 150 points. Dow futures also posted a gain of about 50 points. U.S. markets were strong for the second straight day on the back of gains in technology stocks. On Friday, the Nasdaq closed nearly 300 points higher for the day, while the Dow Jones gained 180 points. Record movement in the commodity market. Much movement was also seen in the commodity market. Silver surged by nearly ₹5,000 to its all-time high of ₹2,08,603 per kg. However, gold fell nearly ₹300 to close at ₹1,34,200. Crude oil remained stable near $61 a barrel. Precious metals saw widespread strength. LME copper closed at a record high, aluminum hit a three-and-a-half-year high, while zinc, lead and nickel also rose up to 1.5 percent. SEBI rejected the news of short selling ban. SEBI termed the media reports of the ban on short selling as complete rumours. The regulator has made it clear that there is no question of any change in the existing framework of short sales. Corporate and IPO Updates Indian Hotels sells around 25.5 per cent stake in its subsidiary Taj GVK Hotels. The stake will be sold to promoter GVK Bhupal family at a price of around ₹370 per share. Meanwhile, the IPO of Gujarat Kidney & Super Specialty will open for subscription today. The issue price band has been fixed at ₹108 to ₹114. Anil Singhvi’s views will be especially important for investors at 8am. Important news for train passengers: Train travel will be expensive from December 26. The fares of AC and non-AC mail and express trains have been increased by 2 paise per kilometer. However, there is no change in the fares of local trains. Overall, the market is expected to open on a positive note amid strong global cues and continued investment inflows, while investors will keep a close eye on Infosys ADR movements and bounce back in the commodity market.