Indian equities opened with gusto on Monday, shrugging off weekend caution as the Sensex rocketed 597 points to 84,177.51 from its prior close of 83,580.40. The Nifty mirrored the optimism, jumping 195 points to 25,888.70 against Friday’s 25,693.70 finish.
Around 9:30 AM, momentum held firm with Sensex at 84,022.17 (up 0.53%) and Nifty at 25,822.65 (up 0.50%). Midcap and Smallcap indices outperformed, gaining 0.6% and 0.76% respectively, reflecting broad-based participation.
PSU Banks stole the show, surging more than 3%, with Realty up 1.7% and Metals 0.9%. Sensex heavyweights like SBI, Titan, Eternal, Kotak Bank, Tata Steel, BEL, Adani Ports, and IndiGo emerged as top gainers. Laggards included Power Grid, ITC, Bajaj Finance, Axis Bank, HUL, and ICICI Bank.
Choice Broking’s Akash Shah analyzed Friday’s action: a shaky start gave way to a 210-point rebound from intraday lows, underscoring dip-buying strength. Nifty faces resistance at 25,850-25,900, with support at 25,550-25,600.
FIIs infused Rs 1,950 crore net on Friday, countering DII sales of over Rs 1,265 crore. In volatile global times, experts urge selective strategies: buy quality stocks on weakness and eye Nifty’s break above 26,000 for bullish confirmation. Such a move could herald a new phase of market stability and growth, benefiting long-term investors.