In early trading on Monday, the BSE Sensex surged by 292.29 points, or 0.36%, reaching 81,980.74, while the NSE Nifty rose by 54.55 points, or 0.22%, to hit 25,069.15. This rebound follows a challenging week for the equity markets, fueled by a rally in global markets and strong buying interest in major stocks like ITC and ICICI Bank.
Among the 30 Sensex constituents, ITC, Kotak Mahindra Bank, HCL Technologies, Infosys, and Tata Consultancy Services led the gains, while Titan, Adani Ports, NTPC, Power Grid, and HDFC Bank lagged behind.
Asian markets, including Tokyo, Shanghai, Hong Kong, and Seoul, also posted gains on Monday, following positive momentum from U.S. markets last Friday.
However, Foreign Institutional Investors (FIIs) sold equities worth ₹9,896.95 crore, while Domestic Institutional Investors (DIIs) purchased ₹8,905.08 crore, according to exchange data.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that global stock markets remain resilient despite rising tensions in the Middle East. He highlighted the robust U.S. economy, particularly strong September non-farm job numbers, as a key factor contributing to positive sentiment.
The global oil benchmark Brent crude fell by 0.44% to $77.71 per barrel. Last Friday, the BSE Sensex had tumbled 808.65 points, or 0.98%, closing at a three-week low of 81,688.45, while the Nifty dropped 235.50 points, or 0.93%, to settle at 25,014.60. Overall, the BSE Sensex experienced a significant decline of 3,883.4 points, or 4.53%, last week, while the Nifty fell by 1,164.35 points, or 4.44%.
