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The BSE Sensex on Monday trades higher by nearly 600 points at 79,152.86 in the opening trade, while the NSE Nifty reclaims 24,000 amid strong buying in banks and IT companies.
Sensex Today.
The BSE Sensex on Monday traded higher by 599.66 points at 79,152.86 in the opening trade, while the NSE Nifty reclaimed 24,000 and surged 152.55 points to open at 24,004.20, amid a strong buying in banks and IT companies. The Bank Nifty also hit record high of 54,290.20 in the early trade.
Among the 30 shares of the Sensex, 16 were trading in green. Among the top gainers were Tech Mahindra, Axis Bank, HDFC Bank, SBI, IndusInd Bank, and Infosys rising by up to 3.45 per cent. However, Adani Ports, Eternal, ITC, Bharti Airtel and Titan were the losers falling by up to 3.21 per cent.
The advance-decline ratio stood at 1,995-1,160. A total of 52 shares traded at their 52-week highs, while 21 stocks were trading at 52-week lows.
Banking shares surged on Monday following strong Q4 results. ICICI Bank’s stock rose by 2 per cent to hit its fresh all-time high of Rs 1,437 the opening trade, after the private sector lender reported an 18 per cent jump in March quarter standalone net profit at Rs 12,630 crore. Other banks, including HDFC Bank (nearly 1.5%) and Yes Bank (over 7%), also rose.
IT stocks also traded higher despite weak Q4 results. Tech Mahindra (4.3%), Infosys (2.29%), TCS (0.4%), Wipro (1.1%), and HCL Tech (1.53%) were trading higher in the early trade.
V K Vijayakumar, chief investment strategist of Geojit Investments Limited, said, “The focus of the FIIs will be the domestic consumption themes like financials, telecom, aviation, hotels, select autos, real estate, cement and health care. Growth stocks in the digital space also have the potential to move up. IT will continue to be under pressure since the growth outlook for the sector is bleak due to the expected sharp slowdown in the US economy.”
The possibility of India striking a deal with the US in the next few months is being perceived by the market as positive. Viewed from the perspective of the short-term market construct it is Advantage India, he added
According to Choice Broking, after the positive opening, the Nifty is likely to find support at 23,700, followed by 22,600 and 22,500. On the upside, 24,000 may act as the immediate resistance, followed by 24,200 and 24,500.
The Relative Strength Index (RSI) is currently at 72.28 and trending upward, signaling improving strength. Meanwhile, the Stochastic RSI has shown a positive crossover, suggesting short-term bullish momentum.
Global Cues
Asian equities and U.S. stock futures slid on Monday while the dollar slumped, as anxiety over tariffs and public criticism of the Federal Reserve by President Donald Trump hit sentiment, leading gold prices to a new high.
Trump launched a series of attacks against Fed Chair Jerome Powell on Thursday, with his team evaluating whether they could fire Powell, a move that has great consequence for the central bank’s independence and for global markets.
Most markets were closed on Friday and some remain on holiday for Easter Monday.
S&P 500 futures fell 0.64% and Nasdaq futures eased 0.53%. In Asia, Japan’s Nikkei fell 1% while South Korea’s benchmark index was steady.
The yield on the benchmark U.S. 10-year Treasury note rose 3 basis points to 4.358% in early Asian hours.
With the U.S. earnings season kicking off, investor focus this week will be on results from tech giant Alphabet, chipmaker Intel and EV maker Tesla.
All the Magnificent Seven megacap stocks are sharply lower in 2025, with Alphabet down about 20% and Tesla off 40%.
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