Business

Stock Market Opens Higher Amid Hopes For India-US Trade Agreement

India’s stock markets opened on a strong note Monday, buoyed by optimism surrounding a potential India-US trade deal and positive global cues.

Early gains were led by buying in IT, PSU banks, and financial services stocks.

Stock Market Begins Week On A Positive Note

At 9:29 AM, the BSE Sensex rose 396.06 points, or 0.50%, to trade at 78,949.26.

Meanwhile, the NSE Nifty climbed 98.20 points, or 0.41%, reaching 23,949.85.

Nifty Bank led sectoral gains, surging 862.25 points, or 1.59%, to 55,152.45.

The Nifty Midcap 100 index gained 233.50 points, or 0.44%, to reach 52,891.30, while the Nifty Smallcap 100 index added 50.15 points, or 0.31%, to trade at 16,460.35.

Technical Outlook: Key Support And Resistance Levels

Market analysts predicted Nifty could find support at 23,700, followed by 22,600 and 22,500.

On the upside, 24,000 may act as immediate resistance, with the next targets at 24,200 and 24,500.

“Bank Nifty charts indicate support around 54,000, followed by 53,700 and 53,500. On the upside, resistance could emerge at 54,500, 54,700, and 55,000,” said Mandar Bhojane, analyst at Choice Broking.

Private Banks Lead Gains After Solid Results

Large private banks drove the market higher, hitting fresh all-time highs.

Their quarterly earnings, released over the weekend, met market expectations, bolstering investor confidence.

JD Vance’s India Visit Sparks Trade Optimism

Market sentiment also improved as US Vice President JD Vance arrived in India, with investors anticipating progress on trade talks.

Analysts said both countries may be moving toward a deal that maintains a 10% baseline tariff while easing specific levies.

Devarsh Vakil, Head of Prime Research at HDFC Securities, noted that investors will closely monitor corporate earnings and commentary for insights into how businesses are adapting to tariff changes and evolving supply chains.

Top Gainers And Losers On Sensex

In early trade, Tech Mahindra, Infosys, HCL Tech, HDFC Bank, Axis Bank, and ICICI Bank emerged as the top gainers on the Sensex.

On the downside, Asian Paints, Hindustan Unilever, Titan, Sun Pharma, and UltraTech Cement posted losses.

Stock Market Overview

In the previous session on Thursday, the US Dow Jones fell 1.33% to 39,142.23. The S&P 500 edged up by 0.13% to 5,282.70, while the Nasdaq slipped 0.13% to 16,286.45.

In Asia, markets in China and Bangkok traded in the green, while indices in Jakarta, Japan, and Seoul remained in the red.

Also Read: India’s Automobile Exports Jump 19% In FY 2024–25; Cross 5.3 Million Units

Purnima Mishra

Recent Posts

Gautam Adani Hails Puri Lifeguards As Unsung Heroes During Rath Yatra Visit

Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…

10 hours ago

Acharya Pramod Krishnam Slams Congress Over ‘Internal Emergency’ Allegation

Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…

10 hours ago

MRM Meeting: Pledge for Global Peace, Green India, De-addiction & Democratic Integrity

Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…

10 hours ago

India To Host 2029 World Police & Fire Games; Amit Shah Hails Global Recognition

India has been chosen to host the prestigious 2029 World Police and Fire Games in…

11 hours ago

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

13 hours ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

14 hours ago