The Indian stock market indices opened with gains on Monday following a global rally, with the Nifty 50 index opening at 24,943.30, up by 108.45 points or 0.44 per cent, and the BSE Sensex gaining 346.93 points or 0.43 per cent to reach 81,679.65 points. All indices, including the Nifty Midcap, Nifty Small Cap, and Nifty Next 50, opened in green on the NSE, as did the sectoral indices. The top gainers on the Nifty 50 list were NTPC, BPCL, ICICI Bank, IndusInd Bank, and SBI, while the top losers included Dr. Reddy’s Laboratories, Tata Consumer Products, Titan, Power Grid, and Bharti Airtel. According to Ajay Bagga, a Banking and Market Expert, global cues have turned positive following the US markets going up on Friday, with the US PCE Index print raising expectations of a Fed rate cut on September 18th to 100 percent.
In the upcoming week, the Indian market’s movement will depend on results from Big Tech majors in the US. Markets have turned positive overall, but at all-time highs, so the tolerance for any disappointment is low. Quarterly earnings announcements from companies like Bharat Electronics, Adani Total Gas, Colgate Palmolive (India), Hindustan Petroleum Corporation, Indian Bank, ACC, Adani Wilmar, KEI Industries, Pfizer, and New Delhi Television are expected on Monday. During Friday’s trading session, the markets recovered from post-budget losses and closed in the green after five consecutive trading days of losses, with the Sensex closing at 81,332.72, up 1,292.92 points, and the Nifty closing at 24,834.85, up 428.75 points. International markets such as Japan’s Nikkei and Topix gained 2.02 percent and 1.52 percent, respectively, while South Korea’s Kospi and Kosdaq surged 0.8 percent and 0.48 percent. US equities closed up on Friday, driven by gains in tech stocks and positive inflation data, with the Dow Jones rising 1.64 percent, the S&P 500 increasing 1.11 percent, and the Nasdaq Composite up 1.03 percent.
The Indian stock market started the week on a positive note as global cues turned favorable. The Nifty 50 index and the BSE Sensex opened with gains, with all indices on the NSE, including the Nifty Midcap, Nifty Small Cap, and Nifty Next 50, also opening in the green. Sectoral indices sustained the rally, with top gainers like NTPC, BPCL, ICICI Bank, IndusInd Bank, and SBI leading the way. However, there were also top losers like Dr. Reddy’s Laboratories, Tata Consumer Products, Titan, Power Grid, and Bharti Airtel. Market expert Ajay Bagga highlighted the positive global cues following the US markets’ rise on Friday, with expectations of a Fed rate cut on September 18th.
The upcoming week will see the Indian market’s movement depending on results from Big Tech majors in the US. While the overall market sentiment has turned positive, caution is advised due to the markets being at all-time highs. Quarterly earnings announcements from various companies, including Bharat Electronics, Adani Total Gas, Colgate Palmolive (India), Hindustan Petroleum Corporation, Indian Bank, ACC, Adani Wilmar, KEI Industries, Pfizer, and New Delhi Television, are expected on Monday. Friday’s trading session saw the markets recovering from post-budget losses and closing in the green after a series of losses, with the Sensex and Nifty both posting gains. International markets, such as Japan’s Nikkei and Topix, as well as South Korea’s Kospi and Kosdaq, also saw positive movements.
US equities closed up on Friday, driven by gains in tech stocks and positive inflation data. The Dow Jones, S&P 500, and Nasdaq Composite all posted gains, further boosting market sentiment. Overall, the global market rally has positively influenced the Indian stock market, with investors hopeful for continued upward momentum. As the week progresses, investors will closely monitor earnings releases and global market developments for cues on market direction. The positive start to the week bodes well for market participants, but vigilance is advised given the current market levels.
