Indian equity markets kicked off the trading week on a positive note, with benchmark indices registering solid gains in early trade.
The Sensex rose by 335 points or 0.42% to close at 80,144, while the Nifty 50 advanced 104.30 points or 0.43% to finish at 24,531, buoyed largely by IT and PSU bank stocks.
Investor sentiment was lifted by a recent US court ruling declaring President Donald Trump’s tariffs largely illegal, although still enforceable until October.
The ruling is seen as a potential turning point in ongoing trade tensions.
Domestically, markets cheered India’s better-than-expected Q1 GDP growth of 7.8%, which signalled stronger-than-anticipated economic resilience.
Broader indices outperformed the benchmarks, with the Nifty Midcap 100 rising 0.85% and the Nifty Smallcap 100 up 0.70%.
Among the sectoral indices, Nifty IT led the rally, climbing 1.59%, followed by Nifty Consumer Durables, which rose 0.98%.
PSU Bank and Metal indices also posted healthy gains, up 0.79% and 0.78% respectively. On the downside, the Nifty FMCG Index was the only laggard, slipping 0.24%.
Top Gainers and Laggards
Leading the pack in the Nifty 50 were Tech Mahindra, TCS, Hero Motocorp, HCL Tech, and Trent.
On the flip side, Jio Financial fell by 1.14%, while Reliance, HUL, Maruti Suzuki, and Tata Consumer Products also ended in the red.
“The Nifty 50 is currently trading below its 100-day EMA, indicating a weak trend. A drop below 24,350 may trigger further downside. Key support levels lie at 24,350 and 24,150, with resistance at 24,600–24,800,” said Mandar Bhojane of Choice Broking.
Meanwhile, Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, pointed to the geopolitical implications of the US court’s ruling and the potential impact of proposed GST reforms, stating they ‘could further accelerate growth in the upcoming quarters’.
While US markets closed in the red on Friday—with the Dow Jones down 0.2%, Nasdaq off 1.15%, and the S&P 500 falling 0.64%—Asian markets began the week on a mixed note.
China’s Shanghai Composite gained 0.48%, while Hong Kong’s Hang Seng Index jumped 2.02%. However, Japan’s Nikkei dropped 2.03%, and South Korea’s Kospi fell 0.83%.
Despite Monday’s rally, foreign institutional investors (FIIs) pulled out ₹34,993 crore from Indian equities in August—the sharpest outflow in 2025—largely driven by global uncertainty and underwhelming earnings in the June quarter.
With supportive macroeconomic data and strong sectoral momentum, market participants remain cautiously optimistic for the weeks ahead.
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