India’s benchmark indices opened higher on Monday, rebounding after a five-session losing streak.
The Nifty 50 climbed 69.50 points, or 0.28%, to 25,084.10, while the BSE Sensex advanced 163.56 points, or 0.20%, to 81,852.01, following a 4% drop in the previous week.
Sectorally, the Nifty IT index led the gains, rising over 1% as major IT firms, including TCS, gear up to release their quarterly earnings later this week. The Nifty Metal index also rallied, posting gains of over 0.9%.
Among the top gainers in the Nifty 50 were ITC, Trent, and HCL Tech, while Titan, Hindustan Unilever, and Britannia were among the biggest laggards.
Market experts predict a cautiously optimistic outlook for Indian equities this week. Geopolitical tensions and the start of the corporate earnings season are seen as key factors that could influence market sentiment.
Banking and market expert Ajay Bagga said that markets could gain this week if tensions in the Middle East remain contained. “With the earnings season kicking off later in the week, market movements will likely depend more on economic updates than geopolitical risks,” he said.
Varun Aggarwal, Managing Director of Profit Idea, provided a more cautious perspective, saying, “The uptrend for Nifty 50 has sharply turned down, with support seen around 25,000. We may see a minor bounce early this week, but caution is advised against holding long positions due to market volatility. A move below 25,000 could lead to further declines towards 24,500.”
Asian markets also posted gains on Monday, with Japan’s Nikkei 225 surging over 1.8%, and Hong Kong’s Hang Seng rising 1.2%. Markets in South Korea and Taiwan followed suit, each advancing by more than 1%.
(With ANI input)
