Indian stock markets opened positively on the first trading day of this week. Major indices, BSE Sensex and NSE Nifty, are trading in the green. The Sensex gained over 300 points at the opening, while the Nifty also saw a modest increase.
Business Desk: A positive trend was observed in the Indian stock market on the first trading day of the week. Major indices, BSE Sensex and NSE Nifty, witnessed an early surge. The market opened in the green, which is reassuring for investors. Around 9:19 AM, the BSE Sensex was trading at approximately 79,576, up nearly 400 points, while the Nifty also gained approximately 90 points, reaching 24,128.
Positive Signals from Global Markets
The positive trend in the early market trading is attributed to positive signals from global markets. Most Asian stock market indices are trading in the green. GIFT Nifty was also trading at 24,228, up 88 points, signifying a positive outlook for the Indian market. Furthermore, positive news emerged from the US markets. On Friday, Wall Street saw gains of 0.05% in the Dow Jones Industrial Average, 0.7% in the S&P 500, and 1.26% in the Nasdaq Composite.
Driving the Market Surge
The Indian market is currently witnessing a surge in major stocks like Reliance Industries, Mahindra & Mahindra, Airtel, IndusInd Bank, and Axis Bank. This surge is driven by investors' positive sentiment regarding a potential easing of the US-China trade war and the possibility of trade agreements between India and the US. Furthermore, the strength in Asian stock markets has also benefited the Indian market.
The market showed a b start even during the pre-opening session this morning. At 9:10 AM, the BSE Sensex was expected to open at 79,343, up 131 points. Similarly, the NSE Nifty indicated an opening at 24,070, up 30 points.
Last Week's Decline
However, the Indian stock market experienced a significant decline on Friday. The BSE Sensex closed at 79,212.53 points, down 588.90 points, while the NSE Nifty closed at 24,039.35, down 207 points. Most sectors, except the IT sector, witnessed a decline. Midcap and smallcap indices also fell by more than two percent. This decline was attributed to profit-booking.
Although the stock market shows a positive trend today, investors still need to remain cautious. The ongoing tension between India and Pakistan could impact the market. Escalating tensions could negatively affect the market. Therefore, investors should exercise caution before investing.
Potential for Recovery Today?
Considering official data and global indicators, a recovery is expected in the Indian stock market today. However, the market's direction will largely depend on global circumstances and the India-Pakistan tension. Investors are advised to continuously monitor market movements to avoid any unforeseen situations.
