Indian equity markets traded higher in early deals on Monday, with benchmark indices gaining around 0.6 per cent each, supported by positive global cues.
The BSE Sensex was trading at 77,121.97, up 457 points or 0.59 per cent, while the Nifty 50 rose to 24,047, gaining 150 points or 0.62 per cent from the previous close.
Buying interest was seen across sectors, led by realty, pharma, IT, auto, and banking stocks.
Among the laggards were Axis Bank, Shriram Finance, and Bajaj Finance.
Earlier in the session, the Nifty opened at 23,945.45, up 47 points, while the Sensex began at 76,856.05, gaining 191.84 points.
Sectoral indices remained in positive territory, with Nifty Realty, Nifty Pharma, Nifty IT, Nifty Auto, and Nifty PSU Bank rising between 0.8 per cent and 2 per cent.
Broader markets outperformed the benchmarks, with the Nifty Midcap 150 and Nifty Smallcap 100 advancing up to 1 per cent.
The volatility index, India VIX, declined over 2 per cent to 19.24, indicating relatively lower market volatility.
Analysts said the Nifty continues to trade in a negative-to-sideways range, with immediate support seen around 23,800–23,900 levels and resistance near 24,200, suggesting limited upside unless key levels are breached.
They noted that while domestic sentiment is supported by developments such as the India–New Zealand Free Trade Agreement and deal activity in the pharmaceutical sector, global cues remain mixed.
Market participants are closely tracking the policy outcome of the US Federal Reserve meeting, key macroeconomic data, and earnings from global technology companies, which are seen as crucial for sustaining the ongoing rally.
However, elevated crude oil prices, weakness in the rupee, and persistent geopolitical uncertainties, particularly in West Asia, may keep volatility high and cap gains in the near term.
In the commodities market, Brent crude traded over 2 per cent higher at around 107.77 US dollars per barrel, while US West Texas Intermediate crude rose 2.41 per cent to 96.68 US dollars.
Asian markets traded on a mixed note. Japan’s Nikkei 225 rose nearly 2 per cent, while Hong Kong’s Hang Seng Index was marginally higher and South Korea’s Kospi gained over 2 per cent.
In the United States, Wall Street ended on a positive note, with the S&P 500 rising 0.80 per cent and the Nasdaq Composite advancing 1.63 per cent.
-IANS
