Mumbai’s bustling stock market kicked off the trading week on a high note Monday, with the Sensex surging over 400 points at open. Starting from Friday’s close of 83,580.40, the BSE benchmark index leaped 597.11 points to 84,177.51 in early trade. The Nifty, meanwhile, climbed 195 points from 25,693.70 to 25,888.70, signaling robust investor confidence.
By around 9:30 AM, the Sensex stood at 84,022.17, up 441.77 points or 0.53%. The Nifty traded at 25,822.65, gaining 128.95 points or 0.50%. Broader markets showed similar strength, with the Nifty Midcap index rising 0.6% and Smallcap index advancing 0.76%.
Sector-wise, PSU Banks led the charge with over 3% gains, followed by Realty at 1.7% and Metals at 0.9%. Top performers in the Sensex pack included SBI, Titan, Eternal, Kotak Bank, Tata Steel, BEL, Adani Ports, and IndiGo, all posting sharp rises. On the flip side, Power Grid, ITC, Bajaj Finance, Axis Bank, HUL, and ICICI Bank saw declines.
Technical analyst Akash Shah from Choice Broking noted that Friday’s session started weak but recovered strongly, closing 210 points higher from lows at 25,693.70. This indicates solid buying interest at lower levels. He highlighted 25,850-25,900 as key resistance and 25,550-25,600 as immediate support for Nifty.
On Friday, Foreign Institutional Investors (FIIs) net bought Rs 1,950 crore, while Domestic Institutional Investors (DIIs) sold over Rs 1,265 crore. Amid global uncertainties, Shah advises traders to stay disciplined, focus on fundamentally strong stocks during dips, and wait for a clear breakout above 26,000 before new long positions. This could signal lasting market sentiment improvement, setting the stage for sustained rally.