New Delhi: Indian stock markets opened higher on Monday, gaining tracking across Asian markets, even as rising crude oil prices and geopolitical tensions kept investor sentiment cautious.
The BSE Sensex rose 457 points, or 0.59 per cent, to 77,121.97, while the Nifty 50 gained 150 points, or 0.62 per cent, to 24,047 in early trade. Buying interest was seen in sectors such as realty, pharma, IT, auto, and banking, although stocks like Axis Bank, Shriram Finance, and Bajaj Finance lagged.
Asian markets offered positive cues, with Japan’s Nikkei 225 climbing 1.4 per cent to a record high and South Korea’s Kospi rising 1.83 per cent to a fresh peak.
China’s CSI 300 also edged up 0.25 per cent following improved industrial profit data. However, Australia’s S&P/ASX 200 and Hong Kong’s Hang Seng Index traded marginally lower.
In commodities, Brent crude prices surged over 2 per cent to around $107 per barrel, while US crude also moved higher amid continued geopolitical uncertainty linked to stalled talks between the US and Iran.
Market participants remain cautious, balancing global geopolitical risks, foreign fund flows, and ongoing corporate earnings.
According to market experts, elevated crude oil prices continue to be a major concern, with volatility expected to persist in the near term.
Analysts noted that fourth-quarter earnings will be a key driver, with the NBFC sector likely to remain in focus.
From a technical perspective, the Nifty 50 is being closely watched after slipping below the 24,000 mark in recent sessions, with immediate support seen around 23,800 and resistance in the 24,300–24,400 range. Bank Nifty has shown relative resilience, with support near 55,800 and resistance around 57,000.
Investors are also tracking major global cues this week, including earnings from leading US technology firms and policy decisions by central banks such as the US Federal Reserve, European Central Bank, and Bank of Japan.
(DD News)
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