Mumbai: Indian Equity Benchmarks Hit Record Highs on Global Optimism
India’s equity benchmarks opened at historic levels on Monday, buoyed by positive trends in global markets. At the start of trading, the Sensex and Nifty reached new all-time highs of 75,679 and 23,043, respectively.
As of 10:20 a.m., the Sensex was up 60 points or 0.08% at 75,465 points, while the Nifty was trading flat. Midcap and smallcap stocks outperformed largecaps, with the Nifty Midcap 100 rising 111 points or 0.21% to 52,529 points, and the Nifty Smallcap 100 gaining 38 points or 0.24% to 16,926 points.
The Indian Volatility Index, India VIX, rose by 5.02% to 22.80 points.
Sector-wise, IT, PSU Banks, Financial Services, Realty, FMCG, and Private Banks were the major gainers, while Auto, Metal, Energy, Media, and Infrastructure sectors lagged behind.
Top gainers included Kotak Mahindra Bank, HDFC Bank, TCS, IndusInd Bank, Ultratech Cement, Tata Steel, and HUL. On the other hand, Wipro, Maruti Suzuki, NTPC, Power Grid, M&M, Tata Motors, Reliance, and Asian Paints were among the top losers.
Asian markets showed positive trends with Tokyo, Shanghai, Hong Kong, Bangkok, and Jakarta trading in the green. US markets closed flat in the previous session. In crude oil markets, Brent crude held steady at $82 per barrel, while WTI crude stood at $78 per barrel.
Vaishali Parekh, Vice President-Technical Research at Prabhudas Lilladher Pvt. Ltd, commented, “Nifty has shown significant gains this week, reaching new all-time highs above the 23,000 mark, reinforcing positive sentiments and trends.”
Parekh added, “The index remains robust with potential targets of 23,200 and 23,500 in the near term, with 22,800 serving as a crucial support level that must be maintained.”
