Bulls Take Charge: Sensex, Nifty Rally Sharply After Successful ‘Operation Sindoor’
The domestic indices surged on Monday, with the Sensex jumping over 1,900 points in the morning trade, as India-Pakistan tensions eased with ‘Operation Sindoor’ marking a significant demonstration of India’s military and strategic prowess.
Buying was seen in the PSU bank, IT, and auto sectors in the early trade.
At around 9.34 am, the Sensex was trading 1,943 points, or 2.45 per cent, up at 81,398.42, while the Nifty climbed 598.8 points, or 2.49 per cent, to 24,606.85.
Nifty Bank was up 1,395.95 points, or 2.60 per percent, at 54,991.20. The Nifty Midcap 100 index was trading at 54,679.55 after rising 1,456.20 points, or 2.74 per cent. The Nifty Smallcap 100 index was at 16,584.60 after climbing 498.95 points, or 3.10 per cent.
According to analysts, India’s markets and economy have demonstrated remarkable resilience, consistently transcending external perturbations and geopolitical tensions. This strength comes from a steady, domestically orientated economy, which helps protect against global troubles, showing that every crisis eventually ends.
“India’s efforts to negotiate trade deals will strengthen global business links and help it sell more worldwide, bringing in steady foreign money and making it more competitive. Along with balanced global relationships and strong partnerships, this creates a relatively stable investment place,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.
Major indexes finished the last week narrowly mixed. The trade deal announcement between the US and the UK and reports that US and Chinese officials met in Switzerland on the weekend for trade discussions paved the way for broader negotiations and tariff de-escalation and supported investor sentiment, said experts.
Meanwhile, in the Sensex pack, Adani Ports, Bajaj Finance, Axis Bank, Eternal, Power Grid, NTPC, Bajaj Finserv, Tata Steel, L&T, and SBI were the top gainers. Whereas only Sun Pharma was the top loser.
In the Asian markets, China, Hong Kong, and Seoul were trading in green, whereas Japan was trading in red.
In the last trading session on Friday, the Dow Jones in the US declined 0.29 per percent to close at 41,249.38. The S&P 500 declined 0.07 per cent to 5,659.91and the Nasdaq closed at 17,928.92 .
On the institutional front, foreign institutional investors (FIIs), after being net buyers for 16 consecutive sessions, turned net sellers on May 9, offloading equities worth Rs 3,798.71 crore. In contrast, domestic institutional investors (DIIs) remained net buyers, investing Rs 7,277.74 crore on the same day.
(DD News)
