India’s benchmark indices opened higher on Monday, with investors cautiously awaiting Donald Trump’s inauguration as the 47th president of the United States.
The Nifty gained 87.20 points, or 0.38 percent, to open at 23,290.40, while the Sensex climbed 359.20 points, or 0.47 percent, to 76,978.53.
Experts predict market reactions will hinge on Trump’s swearing-in speech on Monday and the first executive orders, which are expected to shape policy direction for his second term.
Ajay Bagga, a banking and market expert, said: “Markets will watch the swearing-in speech and then the first executive orders from Trump. He is expected to sign around 100 executive orders in the first few days of his new term.”
Bagga added: “Asian markets are rising on hopes of a US-China trade deal and on the back of the Israel-Hamas ceasefire being implemented.”
Sectorally, Nifty Auto, FMCG, and Metal declined, while Nifty Private Bank led gains, surging nearly 1 percent. Wipro and Kotak Bank topped the Nifty 50 gainers’ list, each rising over 6 percent, while Shriram Finance, SBI Life, and IndusInd Bank were the main laggards.
Key companies, including Zomato, Indian Railway Finance Corporation, and Paytm, are set to announce their Q3 results today, which may further influence market movements.
Asian markets continued their upward trend, with Japan’s Nikkei 225 up 1.03 percent and Hong Kong’s Hang Seng gaining more than 2 percent.
(With ANI inputs)