The Indian benchmark indices opened higher on Monday amid positive global cues, as buying was seen in the IT, PSU banks and auto sectors in the early trade.
At around 9.26 am, Sensex was trading 379.01 points or 0.46 per cent up at 82,568 while the Nifty added 116.15 point or 0.46 per cent at 25,119.20.
Nifty Bank was up 273.35 points or 0.48 per cent at 56,851.75. The Nifty Midcap 100 index was trading at 59,405.95 after rising 395.65 points or 0.67 per cent. Nifty Smallcap 100 index was at 18,711.90 after climbing 129.45 points or 0.70 per cent.
According to analysts, the monetary bazooka fired by the RBI last week will keep the market spirits alive in the near-term.
But this may not be sufficient to sustain the rally, and more important is the trend in earnings growth, they added.
"Q4 results indicate better earnings growth for midcaps. FY26 earnings are unlikely to reach mid teens, which is necessary for the market to remain resilient and move up," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd.
Meanwhile, in the Sensex pack, Bajaj Finance, Axis Bank, IndusInd Bank, Kotak Mahindra Bank and Infosys were the top gainers. Whereas, Titan, Tata Steel and Eternal were the top losers.
After a positive opening, Nifty can find support at 25,000, followed by 24,900 and 24,800. On the higher side, 25,100 can be an immediate resistance, followed by 25,200 and 25,300, said experts.
Given the current market dynamics and lingering global uncertainties, traders are advised to maintain a disciplined approach. It is prudent to avoid taking large overnight positions and instead focus on short-term trading opportunities, backed by strict stop-losses and robust risk management, said Hardik Matalia from Choice Broking.
The foreign institutional investors (FIIs) purchased equities worth Rs 1,009.71 crore on June 6, while domestic institutional investors (DIIs) extended their buying on the 14th day, as they bought equities of Rs 9,342.48 crore on the same day.
In the Asian markets, Hong Kong, Bangkok, China, Seoul and Japan were trading in green.
In the last trading session, Dow Jones in the US closed at 42,762.87, up 443.13 points, or 1.05 per cent. The S&P 500 ended with a gain of 61.06 points, or 1.03 per cent, at 6,000.36 and the Nasdaq closed at 19,529.95, up 231.51 points, or 1.20 per cent.
Indian stock market opens in red as Israel-Iran tensions rise
The Indian benchmark indices opened sharply lower on Friday as tensions escalated between Israel and Iran. Heaving selling was seen in the auto, IT, Financial service and PSU Bank sectors in the early trade.
Stock market ends in green, Bank Nifty hits new all-time high of 57,000
The Indian stock markets closed in the green on the first trading day of the week, as Bank Nifty hit a new all-time high of 57,000 on Monday, reflecting strong sentiment and momentum in the banking sector.
World’s largest container ship MSC IRINA arrives at Adani’s Vizhinjam International Seaport
In a historic feat, the world’s largest container ship MSC IRINA arrived at Adani Group's Vizhinjam International Seaport on Monday, which will be berthed till Tuesday.
India now has 1.76 lakh registered startups, 118 unicorns: FM Sitharaman
The number of registered startups has reached 1.76 lakh in the last 11 years, with 118 unicorns (startups with $1 billion valuation and above), thus fueling youth entrepreneurship, Finance Minister Nirmala Sitharaman said on Friday.
Adani Ports secures Rs 5,000 crore via 15-year non convertible debenture
Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday said it has successfully raised Rs 5,000 crore through a 15-year Non-Convertible Debenture (NCD).
Indian stock market ends in green over positive global cues
The Indian stock market closed in green on Thursday amid positive global cues. Sensex closed 320.70 points or 0.39 per cent up at 81,633.02 while Nifty ended up 81.15 points or 0.33 per cent at 24,833.60.
Total telephone subscribers in India increase to 1,203.84 million in April
The number of total telephone subscribers in India increased from 1,200.80 million at the end of March to 1,203.84 million in April, a monthly growth rate of 0.25 per cent, the government’s telecom subscription data showed on Thursday.
India’s defence production surges to all-time high of Rs 1.46 lakh crore: Rajnath Singh
India’s indigenous defence production has surged to an all-time high of Rs 1.46 lakh crore, with exports increasing to a record Rs 24,000 crore in 2024-25, Defence Minister Rajnath Singh said on Thursday.