Indian equity markets experienced a modest uptick on Monday, buoyed by strong performances from major stocks including Bharti Airtel, Axis Bank, Power Grid, Nestle, NTPC, Sun Pharma, HCL Tech, and Infosys.
As of 9:45 AM, the Sensex had climbed by 43 points, or 0.05%, reaching 81,605, while the Nifty saw an increase of 13 points, or 0.05%, to 24,950.
The early trading session witnessed gains across midcap and smallcap stocks, with the Nifty midcap index rising 613 points, or 1.05%, to 58,960, and the Nifty smallcap index up by 167 points, or 0.88%, to 19,259.
Conversely, the Sensex saw losses in several major stocks, including Bajaj Finserv, M&M, Bajaj Finance, Kotak Mahindra Bank, IndusInd Bank, HDFC Bank, and TCS, which emerged as the key laggards.
Market analysts noted several emerging trends: a persistent weakness in mid and small-cap segments, a surprising resilience in the banking sector despite its recent underperformance, and a gradual accumulation in defensive sectors like pharmaceuticals and FMCG.
“Investors are increasingly favoring quality stocks, and the ‘buy on dips’ strategy remains effective,” experts commented.
All major indices on the National Stock Exchange (NSE) were trading positively, with notable gains in IT, PSU Bank, pharma, realty, media, energy, and infrastructure sectors.
In the Asian markets, Tokyo, Hong Kong, Jakarta, and Seoul reported gains, while Bangkok and Shanghai were in the red. The US markets also ended the previous trading session on a positive note.
Foreign Institutional Investors (FIIs) were net buyers on September 9, acquiring equities worth Rs 1,176 crore, whereas Domestic Institutional Investors (DIIs) also showed a strong buying trend, investing Rs 1,757 crore on the same day.
Also Read: Apple Unveils iPhone 16 Series, Apple Watch Series 10, & New AirPods With Exciting Innovations
