Did the Indian Stock Market Close in the Green Today?

Mumbai, May 26 (NationPress) The Indian stock market ended on a positive note on Monday with broad-based buying evident across various sectors, most notably in auto and IT stocks. The benchmark indices kicked off the week with optimism, marking an upward trend for the second consecutive session.

By the closing bell, the Sensex rose by 455.37 points, or 0.56 percent, reaching 82,176.45, while the Nifty climbed 148 points, or 0.60 percent, to settle at 25,001.15.

The surge was primarily driven by auto and IT sectors, with both Nifty Auto and Nifty IT indices recording gains of one percent each. Additionally, buying interest was also observed in the metal, realty, media, energy, commodity, and PSE indices.

Notably, midcap and smallcap stocks also saw increased buying activity. The Nifty Midcap 100 index rose by 379.50 points, or 0.67 percent, closing at 57,067.25, while the Nifty Smallcap 100 index increased by 64.45 points, or 0.37 percent, to close at 17,707.80.

“The index has formed a bullish candle with a higher high and a higher low, indicating a continuation of the upward movement for the second session in succession, fueled by robust buying demand from the 20-day EMA. The outlook remains positive, and any dips should be viewed as buying opportunities, as we anticipate the index to advance towards 25,300 in the upcoming sessions,” remarked Bajaj Broking Research in a recent note.

Market analysts noted that the US's consideration to extend the deadline for imposing stringent tariffs on the EU, along with a decrease in the dollar index, played a pivotal role in the recovery of domestic equity markets.

These developments indicate constructive progress in trade negotiations, which may help stabilize market volatility.

“Furthermore, the early arrival of the southwest monsoon and a drop in domestic bond yields have spurred investors to focus on riskier assets. The broader market has outperformed, driven by expectations of heightened rural consumption and a stronger Q4 GDP, following better-than-expected corporate earnings for the quarter,” stated Vinod Nair, Head of Research at Geojit Investments Limited.

The rupee appreciated by 24 paise, closing at 85.09 against the US dollar, buoyed by ongoing weakness in the dollar index, which fell to 98.93.

“With a series of key US economic data releases scheduled this week, including Durable Goods Orders, FOMC Meeting Minutes, Q1 GDP, and the Core PCE Price Index, USD-INR volatility is expected to remain elevated. The rupee is anticipated to trade within a range of 84.50 to 85.25 in the near term,” noted Jateen Trivedi from LKP Securities.