Synopsis : Indian markets started the week on a strong note with Sensex climbing over 300 points and Nifty crossing 24,500. The rally was led by IT and consumer durable stocks, buoyed by robust GDP data and global market cues.
Indian benchmark indices opened higher on Monday, continuing their upward momentum. The Sensex surged over 300 points, while the Nifty 50 traded above the 24,500 mark, driven largely by gains in IT, energy, and banking stocks.
The positive sentiment came after better-than-expected June-quarter GDP data uplifted investor confidence. Additionally, a U.S. court ruling that deemed most of President Donald Trump’s tariffs illegal, though temporarily upheld until mid-October, also contributed to market optimism.
Sectorally, IT and consumer durable stocks led the rally, showcasing strong buying activity. The energy and banking sectors followed with healthy gains. However, the FMCG index was the only sector to open in the red. Broader market indices also reflected positivity, with midcap and smallcap indices trading in green.
Global Market Overview:
S&P 500 futures: Little changed as of 12:50 p.m. Tokyo time
Japan’s Topix: Fell 0.8%
Australia’s S&P/ASX 200: Dropped 0.7%
Hong Kong’s Hang Seng: Rose 1.7%
Shanghai Composite: Gained 0.1%
Euro Stoxx 50 futures: Little changed
Overall, global cues remained mixed, but strength in Asian markets, particularly Hong Kong and China, supported Indian equities.
Disclaimer : This article is for informational purposes only and should not be considered financial or investment advice. Investors are advised to consult with a professional financial advisor before making any investment decisions.
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