Domestic equity markets opened higher on Monday, the first trading session of the week, supported by firm global cues. The domestic benchmark indices opened in positive territory with gains of nearly 1 percent during early trade.
The BSE Sensex opened 720.47 points, or 0.96 percent, higher at 76,135.82, while the Nifty 50 began trading 220.95 points, or 0.93 percent, higher at 23,940.25.
Market participants tracked lower crude oil prices following reports of a potential agreement between the United States and Iran, which strengthened investor sentiment and led to buying in domestic equities during early trade.
Crude oil prices in international markets declined to their lowest level in two weeks amid expectations of easing tensions between the United States and Iran, potentially reducing pressure on global energy supplies. Softer energy prices are considered favourable for oil-importing countries such as India and may contribute to lower costs across sectors. Auto, banking, finance and infrastructure stocks witnessed buying interest in early trade on Monday.
Market breadth remained broad-based during opening trade. Of the 30 constituents on the BSE Sensex, 28 stocks opened in positive territory, while 2 declined. On the Nifty 50, 47 of the 50 constituent stocks traded higher, while 3 opened lower.
Among sectoral performers, shares of Mahindra & Mahindra recorded the highest gain, opening about 1.89 percent higher. Other major gainers included HDFC Bank, up 1.77 percent; Larsen & Toubro, up 1.64 percent; Asian Paints, up 1.63 percent; Bajaj Finance, up 1.54 percent; Maruti Suzuki, up 1.45 percent; Adani Ports and Special Economic Zone, up 1.26 percent; and State Bank of India, up 1.25 percent.
Buying in banking and financial stocks further supported the broader market gains.
Among heavyweight stocks, Reliance Industries opened 0.88 percent higher, while ITC Limited and Tata Steel also traded with gains. In the information technology segment, Infosys and HCL Technologies opened higher, while Tata Consultancy Services registered a marginal decline.
Sun Pharmaceutical Industries recorded the sharpest decline among major pharmaceutical stocks in early trade, with shares opening about 0.55 percent lower. Tata Consultancy Services also traded marginally lower, though the broader market trend remained positive.
