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Market Opens Strong as Nifty Hits 24,800, Sensex Up 240 Points

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Market Opens Strong as Nifty Hits 24,800, Sensex Up 240 Points

Indian equity benchmarks started the week on a strong note, with both headline indices opening higher on Monday. The NSE Nifty 50 climbed 68 points or 0.28%, to start the session at 24,809, while the BSE Sensex advanced 235 points or 0.29%, to open at 80,945. The Bank Nifty was also green, up 110 points or 0.20% at 54,225. In line with the upbeat sentiment, broader markets (small and midcap stocks) saw gains too, as the Nifty Midcap index rose 208 points or 0.37%, to 57,284.

According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, investors remain cautious amid uncertainty over US-India trade ties. “President Trump’s recent remarks calling the US-India partnership ‘special’ and assuring that there’s nothing to worry about may calm fears of a breakdown. But at the same time, his comments on fresh sanctions against Russia, along with Peter Navarro’s continued attacks on India, are weighing negatively on sentiment,” he said.

Vijayakumar also flagged concerns around whispers of possible curbs on India’s IT exports, a segment that has so far stayed shielded from tariff crossfire. “Though the markets drew some support from GST reforms, the cheer was limited, with much of the gains already factored in post the GST rate cuts,” he added.

Also Read: What is Nifty 100? Complete Guide with Nifty 100 Stock List

Let’s take a look at the key factors to watch out for in today’s trading session:

Early gainers and laggards

JSW Steel, Tata Steel, Tata Motors, Mahindra & Mahindra and Wipro emerged as the top gainers within the Nifty 50 pack in the opening trade. On the other side, SBI Life Insurance, HDFC Life Insurance, Kotak Mahindra Bank, Asian Paints and Nestle India were among the key drags on the index.

Global markets

Across Asia, equities traded higher in the early hours. Japan led the rally after Prime Minister Shigeru Ishiba announced his resignation, ending weeks of political uncertainty following his election defeat. Meanwhile, Wall Street closed in the red on Friday as a weaker-than-expected US jobs report stirred fears of a slowdown in the American economy.

Related Blogs:

  1. What is Nifty 500 Index and How to Invest?
  2. GST Reform: Loss of Rs 95,000 Cr or Economic Growth Uplift?
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