Synopsis : Markets kicked off the week on a high note with the Sensex climbing past 80,900 and Nifty inching toward 24,500, driven by strong gains in Adani group stocks. However, Kotak Mahindra Bank dragged the indices down slightly, falling over 5%.
Markets Kick Off the Week on a Strong Note; Adani Group
Leads Rally, Kotak Mahindra Drops
Indian stock markets opened the week with strong momentum,
led by Adani Group stocks, as the Sensex soared past 80,900 and Nifty hovered
near 24,500 in early Monday trade. This bullish sentiment was supported by
positive global cues and easing recession fears from the U.S.
The BSE Sensex was seen trading at 80,900+, while the NSE
Nifty 50 crossed 24,400 levels in the opening hour. However, Kotak Mahindra
Bank emerged as the session’s major drag, dropping over 5%, likely due to
sectoral underperformance and profit booking.
Adani Ports, Adani Enterprises, and Adani Energy were among
the top gainers, injecting optimism into investor sentiment and lifting market
breadth. Most Asian markets remained closed for Vesak Day, limiting external
directional cues.
In geopolitical developments, tensions between India and
Pakistan remain a key overhang. Defence Minister Rajnath Singh warned of a
“befitting reply” to provocations, as trade relations between the two nations
hit a standstill.
U.S. stock markets closed Friday on a record high, with the
S&P 500 marking its longest winning streak in over 20 years, rising 1.47%.
However, U.S. futures dipped early Monday, indicating potential caution ahead.
Meanwhile, crude oil prices tumbled, with Brent crude
dropping 3.33% to $59.25 a barrel amid rising OPEC+ output. WTI crude followed
suit, falling to $56.19, down 3.6%, which could impact energy-related equities
and inflation outlooks.
As global macro and geopolitical narratives unfold,
investors are likely to remain selective, with a focus on defensives, energy,
and infra-heavyweights in the near term.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
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