Sensex Opens Higher, Nifty Above 24,690; BEL Leads Early Gains.
Benchmark indices started the week in green on Monday after five consecutive sessions of declines. S&P BSE Sensex rose 114.15 points to 80,540.61, while NSE Nifty50 gained 36.45 points to 24,691.15 as of 9:24 am.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the market had drifted below the 24,800 support level, but oversold conditions could trigger a short-term bounce. He added that sustained gains will depend on positive news, particularly on the US trade deal.
Top Gainers and Losers
Among early gainers, Bharat Electronics Limited (BEL) surged 2.41%, followed by Eternal (+1.87%), Tata Steel (+1.16%), Titan (+1.13%), and Mahindra & Mahindra (+0.98%).
The biggest decliners were Hindustan Unilever (-2.27%), Axis Bank (-1.58%), ITC (-0.77%), Asian Paints (-0.33%), and Bharti Airtel (-0.29%).
Sectoral Performance
Most sectors opened strong, with Nifty Realty (+1.03%), Nifty PSU Bank (+0.96%), Nifty Metal (+0.94%), and Nifty Oil & Gas (+0.84%) leading the gains. Only Nifty FMCG (-0.74%) and Nifty Private Bank (-0.09%) faced selling pressure.
Midcap and smallcap indices also rose, with Nifty Midcap100 up 0.68% and Nifty Smallcap100 up 0.72%. India VIX climbed 0.10%.
Analyst View
Vijayakumar expects the RBI’s October 1 policy review to hold rates steady, sending a dovish signal to support growth. He advises gradual accumulation in largecaps such as automobiles, banking, telecom, capital goods, and cement. Weakness in pharmaceuticals presents a buying opportunity due to unaffected generic exports despite global trade tensions.
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