Indian Stock Markets Open Strong As IT & PSU Banks Lead The Rally

The Indian equity markets opened in the green on Monday, 9 June, tracking upbeat cues from global markets.

Both the Sensex and Nifty rose by nearly 0.5% in early trade, led by gains in IT, PSU banks, and auto stocks.

This strong opening has been attributed to favourable investor sentiment following last week’s policy support from the Reserve Bank of India (RBI).

Early market performance

At 9:26 AM, the BSE Sensex was trading 379.01 points higher at 82,568, while the NSE Nifty rose 116.15 points to 25,119.20.

The broader market also reflected strong momentum. The Nifty Bank index climbed 273.35 points to 56,851.75.

Meanwhile, Nifty Midcap 100 surged 395.65 points (0.67%) to 59,405.95, and Nifty Smallcap 100 rose by 129.45 points (0.70%) to 18,711.90.

Market experts noted that the RBI’s recent monetary interventions have provided a temporary boost to investor morale.

“The monetary bazooka fired by the RBI last week will keep market spirits alive in the near-term,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

However, he warned that long-term resilience will depend on consistent earnings growth.

Dr Vijayakumar added, “Q4 results show stronger earnings in midcap stocks, but FY26 projections must hit mid-teens growth to sustain this upward trajectory.”

Top movers & market outlook

Among the Sensex stocks, Bajaj Finance, Axis Bank, IndusInd Bank, Kotak Mahindra Bank and Infosys led the gains.

On the downside, Titan, Tata Steel and Eternal slipped during early trade.

Experts noted that after the initial rally, the Nifty could find support at 25,000, followed by 24,900 and 24,800. Resistance is likely at 25,100, 25,200, and 25,300.

Traders were advised to remain cautious. “Given the current market dynamics and global uncertainties, traders should avoid large overnight positions and focus on disciplined short-term strategies with strict stop-losses,” said Hardik Matalia from Choice Broking.

Foreign institutional investors (FIIs) bought equities worth ₹1,009.71 crore on 6 June.

Domestic institutional investors (DIIs) continued their buying spree for the 14th consecutive session, purchasing ₹9,342.48 crore worth of shares on the same day.

Asian markets, including Hong Kong, Bangkok, China, Seoul and Japan, were trading in positive territory.

The previous session on Wall Street also ended on a high, with the Dow Jones rising 443.13 points to 42,762.87, the S&P 500 up 61.06 points at 6,000.36, and Nasdaq gaining 231.51 points to 19,529.95.

The positive start indicates investor confidence in the Indian economy, buoyed by strong global market sentiment, steady institutional flows, and encouraging domestic earnings data.

However, experts caution that sustained momentum will depend on consistent earnings and macroeconomic stability.

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