Mumbai: Indian stock markets started Monday’s trading session with strong gains as investor confidence improved. Positive signals from global markets and steady buying by foreign investors lifted sentiment.
Both benchmark indices, Sensex and Nifty, moved higher in early trade, continuing the momentum seen at the end of last week.
Sensex and Nifty Record Early Gains
The 30-share BSE Sensex rose by nearly 483 points to reach around 85,412 in early trade. At the same time, the NSE Nifty climbed over 160 points to cross the 26,100 mark. These gains showed that investors were willing to buy shares despite recent market volatility.
IT and Metal Stocks Lead the Rally
Several well-known companies supported the market rise. Shares of Infosys, Tata Steel, Tech Mahindra, Trent, HCL Technologies and Bharti Airtel were among the top gainers. Only a few stocks, such as UltraTech Cement and Power Grid, traded lower, making them the exceptions in an otherwise positive market.
Global Markets Add to Optimism
Markets across Asia also traded higher, which helped boost confidence in Indian equities. Stock indices in South Korea, Japan, China and Hong Kong all showed gains. In addition, US markets closed higher on Friday, setting a positive tone for Asian trading hours.
Foreign and Domestic Investors Buy Shares
Foreign Institutional Investors (FIIs) returned as buyers, purchasing shares worth over Rs 1,800 crore on Friday. Domestic Institutional Investors (DIIs) were even more active, buying stocks worth more than Rs 5,700 crore. Experts believe that this combined buying support is strengthening the market.
Expert Views and Other Factors
Market experts say the recent improvement in the rupee and renewed foreign buying could lead to a year-end rally. These factors may force traders who were betting against the market to cover their positions, pushing indices even higher. Meanwhile, Brent crude oil prices rose to around USD 60.91 per barrel, which investors are closely watching.
Strong Finish to Last Week
On Friday, the Sensex had already ended higher by about 448 points, while the Nifty gained nearly 151 points. This strong close helped set the stage for Monday’s positive opening.
