Indian benchmark equity indices, Sensex and Nifty, experienced a significant rally in early trade, propelled by robust buying in blue-chip bank stocks, fresh foreign fund inflows, and a notable dip in global crude oil prices.
Sensex and Nifty50 Performance: Key Market Highlights Today
- Benchmark equity indices Sensex and Nifty rallied in early trade, supported by strong buying in blue-chip bank stocks.
- Lower Brent crude oil prices, quoting at USD 71.72 per barrel, contributed to the optimistic market sentiment.
- Fresh Foreign Institutional Investor (FII) inflows, amounting to Rs 1,355.33 crore on Friday, further bolstered the domestic equity market.
- The market is expected to respond to Q1 results, which are scheduled to begin on July 9th, influencing future trends.
- Receding geopolitical concerns, particularly the stable US-Iran situation, have reduced energy supply risks and underpinned global investor confidence.
Benchmark equity indices Sensex and Nifty rallied in early trade on Monday driven by buying in blue-chip bank stocks and lower crude oil prices.
Fresh foreign fund inflows also added to the optimistic trend in the domestic equity market.
The 30-share BSE Sensex climbed 281.40 points to 78,051.03 in early deals. The 50-share NSE Nifty rallied 74.60 points to 24,347.05.
Winners and Losers on Dalal Street
From the Sensex pack, Bharat Electronics, HDFC Bank, Axis Bank, ICICI Bank, Bharti Airtel and HCL Tech were among the major winners.
Kotak Mahindra Bank, Bajaj Finserv, Power Grid and ITC were among the laggards.
Brent crude, the global oil benchmark, quoted 0.55 per cent lower at $71.72 per barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,355.33 crore on Friday, according to exchange data.
Expert Insights and Global Factors
"Revival of monsoon and FIIs turning buyers last Friday are positives for the market in the near-term.
"From this week onwards the market will start responding to the Q1 results which will begin on July 9th," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoting higher, while South Korea's Kospi and Japan's Nikkei 225 index traded lower.
"Geopolitical concerns have continued to recede as the US–Iran situation remains stable, with diplomatic engagement progressing and no major disruptions reported.
"The easing of tensions has reduced concerns over energy supply risks in the Middle East, underpinning investor confidence across global markets," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
