Why Did the Indian Stock Market Open in the Green?

Mumbai, June 9 (NationPress) The Indian benchmark indices surged at the start of trading on Monday, buoyed by optimistic global signals. Noteworthy buying activity was recorded in the IT, PSU banks, and auto sectors during the initial trade.

At approximately 9:26 am, the Sensex was up by 379.01 points, equating to a 0.46 percent increase, reaching 82,568. Meanwhile, the Nifty gained 116.15 points, also reflecting a 0.46 percent rise, bringing it to 25,119.20.

The Nifty Bank index rose by 273.35 points or 0.48 percent, settling at 56,851.75. The Nifty Midcap 100 index climbed to 59,405.95, gaining 395.65 points or 0.67 percent. Additionally, the Nifty Smallcap 100 index reached 18,711.90, up by 129.45 points or 0.70 percent.

Analysts suggest that the monetary measures implemented by the RBI last week will invigorate market sentiment in the short term.

However, they caution that this may not be sufficient to sustain the upward momentum. The focus should be on the trajectory of earnings growth, they added.

“Q4 results show promising earnings growth for midcaps. For FY26, earnings are projected to fall short of mid-teens growth, which is essential for the market to remain strong and continue rising,” stated Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd.

Within the Sensex grouping, the top performers included Bajaj Finance, Axis Bank, IndusInd Bank, Kotak Mahindra Bank, and Infosys. Conversely, the biggest decliners were Titan, Tata Steel, and Eternal.

Post the positive opening, the Nifty is anticipated to find support at 25,000, with subsequent support levels at 24,900 and 24,800. On the upside, 25,100 could act as immediate resistance, followed by 25,200 and 25,300, according to experts.

In light of current market conditions and ongoing global uncertainties, traders are encouraged to adopt a disciplined approach. It is wise to refrain from making large overnight trades and instead concentrate on short-term opportunities, underpinned by strict stop-loss measures and sound risk management practices, advised Hardik Matalia from Choice Broking.

On June 6, foreign institutional investors (FIIs) bought equities worth Rs 1,009.71 crore, while domestic institutional investors (DIIs) continued their buying spree for the 14th consecutive day, acquiring Rs 9,342.48 crore in equities.

Asian markets showed a positive trend, with Hong Kong, Bangkok, China, Seoul, and Japan trading in the green.

In the previous trading session, the Dow Jones in the U.S. concluded at 42,762.87, up by 443.13 points or 1.05 percent. The S&P 500 saw an increase of 61.06 points, or 1.03 percent, closing at 6,000.36, while the Nasdaq finished at 19,529.95, up by 231.51 points or 1.20 percent.