Post by : Badri Ariffin

Mumbai: The Indian stock markets experienced a robust opening on Monday, with both the Sensex and Nifty bouncing back after a three-day decline. This rebound was fueled by encouraging movements across Asian markets and renewed interest in prominent blue-chip stocks.

The BSE Sensex surged by 267.74 points, or 0.32%, reaching 83,484.02, while the NSE Nifty climbed 84.90 points, or 0.33%, to settle at 25,577.20 in early trading.

Notable Performers

Key contributors to the Sensex's rise included Asian Paints, Bharat Electronics, Larsen & Toubro, Titan, Reliance Industries, Tata Motors, Infosys, Bajaj Finserv, Axis Bank, Bajaj Finance, ITC, and Bharti Airtel.

Conversely, stocks such as Trent Ltd, Power Grid, Mahindra & Mahindra, NTPC, State Bank of India, Adani Ports, and UltraTech Cement experienced selling pressure, slightly impacting the index.

Global Market Support

Asian indices provided favorable conditions, with South Korea's Kospi soaring 3%, Japan’s Nikkei rising close to 1%, and Hong Kong’s Hang Seng increasing by 0.47%. However, Shanghai’s Composite Index saw a slight decline. The US markets had a mostly positive close on Friday, which further boosted domestic investor confidence.

Participation Trends

On Friday, Foreign Institutional Investors (FIIs) were net buyers, pouring in Rs 4,581.34 crore into equities. Domestic Institutional Investors (DIIs) were also active, contributing Rs 6,674.77 crore, indicating strong ongoing interest in the Indian market.

Impact of Commodities

Brent crude oil prices ascended by 0.64%, reaching USD 64.04 per barrel, placing slight pressure on energy stocks but not dampening the overall positive sentiment in the market.

After a modest dip last Friday, where the Sensex fell by 94.73 points and the Nifty decreased by 17.40 points, the markets are regaining energy at the start of the week, buoyed by foreign inflows and solid blue-chip performances.

#Global News