Benchmark stock market indices opened higher on Monday, lifted by a strong rally in information technology (IT) stocks and upbeat GDP data that signaled resilience against global headwinds, including U.S. tariff concerns.
The S&P BSE Sensex rose 368.48 points to 80,178.13, while the NSE Nifty50 gained 112.65 points to 24,539.50 as of 9:35 am.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the strengthening alignment of China, India, and Russia could reshape global power dynamics and trade flows. He added, “There are two developments to watch—one global, one domestic. The U.S. court ruling declaring Trump’s tariffs illegal is significant, with the final word now pending at the Supreme Court. Domestically, India’s Q1 GDP growth at 7.8% exceeded expectations.”
On the Nifty50, Infosys led the gains with a 1.90% rise, followed by Bajaj Finance (1.65%), Tech Mahindra (1.63%), Adani Ports (1.47%), and Power Grid (1.32%). Maruti Suzuki (-0.54%), Hindustan Unilever (-0.53%), Sun Pharma (-0.34%), Reliance Industries (-0.30%), and ITC (-0.12%) were among the top laggards.
The broader markets also moved higher, with the Nifty Midcap100 up 0.82% and the Nifty Smallcap100 advancing 0.67%. Volatility inched up as India VIX rose 0.48%.
Among sectoral indices, Nifty IT surged 1.56% to lead the rally, followed by Consumer Durables (0.97%), Metal (0.64%), Private Bank (0.53%), and Financial Services (0.47%). FMCG was the only sector in the red, down 0.24%. Other gainers included PSU Bank (0.57%), Auto (0.42%), Healthcare (0.33%), and Realty (0.17%), while Oil & Gas was flat and Media remained unchanged.
According to Vijayakumar, the combination of fiscal stimulus from the Budget, monetary easing by the MPC, and upcoming GST reforms could accelerate growth in the coming quarters. He also highlighted that strong mutual fund inflows would continue to provide liquidity support to markets.
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