Synopsis : Indian markets surged on Monday, with Sensex jumping over 800 points and Nifty crossing 24,250, led by Reliance Industries' strong Q4 earnings and positive Asian cues. However, escalating India-Pakistan tensions capped broader market optimism.
Sensex Jumps 800 Points, Nifty Tops 24,250; RIL, M&M Lead the Charge
India’s benchmark indices started the week on a bullish note, as Sensex soared over 800 points and Nifty climbed past the 24,250 mark on Monday. Strong corporate earnings, particularly from Reliance Industries (RIL), and positive vibes from Asian markets gave the much-needed lift to domestic equities.
At the sectoral level, 12 out of 13 major indices ended higher. Midcaps rose 0.5% while smallcaps edged up by 0.1%, reflecting broad-based buying interest. However, gains were tempered by caution over rising geopolitical tensions between India and Pakistan, following the recent terror attack in Kashmir.
Highlights of Trade:
Aether Energy IPO opened for subscription, attracting early investor attention.
RBL Bank surged 6% after brokerages hiked price targets post a solid Q4 performance.
Shriram Finance tumbled 8% after missing credit cost estimates.
Reliance Industries (RIL) jumped 3%, riding high on its Q4 earnings beat.
The Indian Rupee appreciated by 12 paise, settling at 85.29 against the US Dollar.
Global Markets Update: Asian markets had a cautious but positive start, with hopes pinned on progress in U.S. trade talks and potential stimulus from China.
Japan’s Topix rose 1.1%
Australia’s ASX 200 climbed 1%
Hang Seng futures inched up 0.2%
Euro Stoxx 50 futures advanced 0.3%
Meanwhile, S&P 500 futures slipped 0.5% early in Tokyo trade.
Going forward, market watchers are likely to keep a close eye on geopolitical developments, corporate earnings, and global macroeconomic signals.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Readers are advised to consult with a qualified financial advisor before making any investment decisions.