Stock Market Today: Sensex Opens 700 Points Higher, Nifty Crosses 24,200 On Assembly Election 2026 Results Day
Sensex, Nifty Today: Indian equity markets had a positive opening on Monday, as the benchmark indices surged amid supportive domestic cues and steady global cues. The bullish start is on a day when vote counting for Assembly Election 2026 will begin, which lends a political undertone to the mood of the market.
At 09:32 IST, the Nifty 50 was trading 221 points higher, or 0.92%, at 24,219 after crossing the 24,200 mark in early trade. It was trading at 24,063 and has been gaining momentum since morning, reaching an intraday high of 24,245. The BSE Sensex was 749 points higher, or 0.97%, at 77,662 and has been mirroring the upward trend. The index was trading at 77,257 against the previous close of 76,913 and touched an intraday high of 77,746.
This upward momentum is occurring after the cautious close last week and indicates a domestically led recovery. The investors are paying close attention to the election results of states including Tamil Nadu and West Bengal, which could have a short-term impact on the markets. Also keeping the stocks busy is the fourth-quarter results season.
Investors observed broad-based buying across sectors, with banking, auto, and capital goods stocks contributing the most to the rally. Auto stocks drew attention after April sales hinted at robust demand, although the sales trend was somewhat mixed. The strong sales from the automakers boosted sentiment in the sector. There was good buying interest in bank stocks on the back of improving asset quality and stable earnings estimates.
The Asian and European markets remained shut due to holidays, and therefore, global cues remained muted. However, Gift Nifty indicates a flat opening, and the indices, like KOSPI and Hang Seng of Asia, were trading higher. The US markets closed strong on the back of a solid earnings season and a softer crude oil price earlier in the last trading session.
The crude oil prices traded on a flat note after witnessing some earlier volatility, and gold trimmed a part of its gains due to concerns over inflation. Currency markets remained strong, and the US dollar index was trading firmly ahead of geopolitical developments.
The foreign portfolio investors (FPIs) turned cautious, being net sellers on most of the recent trading sessions, whereas the DIIs were strongly supporting the market with a fresh inflow. The analysts commented that currency and commodity price movements, along with uncertainties worldwide, were the main concern for the foreigners in emerging markets.
While earnings season continues and macro cues are on the move, experts suggest that investors adopt a cautiously selective strategy while taking positions in the market. The results of the elections and corporate earnings, along with global events, will all be crucial determinants for near-term volatility in the market while the underlying trend of the market is positive.
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. Recommendations, suggestions, views, and opinions given by the experts are their own. Please consult a financial advisor before making any investment decisions.)
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