CHENNAI: Indian equity benchmarks opened higher in Monday’s morning trade, supported by strong global sentiment and continued domestic buying interest. The GIFT Nifty indicated a firm start, trading around 26,030 levels, suggesting an early lead for the Nifty 50 after last week’s steady gains. In the mid-morning session, Sensex jumped close to 700 points to 84,913.45.
Both indices extended their positive momentum for the sixth consecutive session, helped by optimism over a potential trade deal between India and the United States. Broader market participation also remained healthy, with mid-cap and small-cap indices showing strength.
Across Asia, markets traded in the green, tracking overnight gains on Wall Street as investor confidence improved on signs of easing trade tensions and a softening in crude oil prices. The positive global trend provided additional support to Indian equities in early deals.
Back home, sentiment was aided by steady foreign institutional inflows and robust domestic liquidity. Banking, IT, and auto shares were among the early gainers, while metal and energy counters saw mild profit-taking. Market breadth was positive, indicating buying interest across sectors.
Analysts said that the market remains in a constructive phase, though intermittent profit-booking could be expected after the recent rally. Technical indicators suggest immediate support for the Nifty around 25,800–25,700 levels, while resistance is seen near 26,200. The broader outlook remains upbeat, with traders advised to maintain stop-losses and avoid aggressive buying at higher levels.
Investors are likely to focus on global cues, foreign fund activity, and upcoming corporate results for near-term direction. Sectors linked to exports, consumption, and banking may continue to attract interest if the current momentum holds.
In summary, Indian markets started the week on a firm footing, buoyed by global strength and sustained domestic participation. While the underlying sentiment remains positive, traders are watching for signs of profit-taking and shifts in global risk appetite that could influence intraday movements.