Mumbai: Indian equity indices commenced the week on a positive note on Monday, bolstered by favorable global cues. As of 9:40 a.m., the Sensex stood at 79,197, rising by 165 points or 0.21 percent, while the Nifty was at 24,069, up by 58 points or 0.22 percent.
The market was led by midcap and smallcap stocks, with the Nifty Midcap 100 gaining 237 points or 0.43 percent to reach 55,984, and the Nifty Smallcap 100 advancing 161 points or 0.88 percent to 18,478.
Among sectoral indices, Auto, IT, Metal, and Media emerged as major gainers, whereas Realty, PSU Bank, and Energy sectors lagged.
The overall market breadth remained positive on the National Stock Exchange (NSE), with 1,631 stocks advancing and 601 declining.
In the Sensex pack, the top gainers included JSW Steel, Tech Mahindra, Maruti Suzuki, HUL, TCS, Wipro, Bharti Airtel, Tata Steel, Nestle, and HDFC Bank. On the other hand, NTPC, Power Grid, L&T, Sun Pharma, and SBI were the leading losers.
Deven Mehata, Research Analyst at Choice Broking, noted, “Nifty can find support at 23,900, followed by 23,850 and 23,800. On the higher side, 24,100 can be an immediate resistance, followed by 24,200 and 24,250.”
Mehata further added, “The charts of Bank Nifty indicate that it may get support at 52,200, followed by 52,000 and 51,900. If the index advances further, 52,500 would be the initial key resistance, followed by 52,650 and 52,800.”
Most Asian markets displayed bullish trends, with Tokyo, Shanghai, Hong Kong, Jakarta, and Seoul trading in the green. Conversely, American markets closed in the red on Friday. Crude oil benchmarks remained steady, with Brent crude at $85 per barrel and WTI crude at $82 per barrel.
