New Delhi: India’s benchmark equity indices surged in early trade on Monday, buoyed by softer crude oil prices amid signs of easing tensions in West Asia and positive early trends from Assembly election results.
The Sensex jumped 833 points, or 1.08 per cent, to hit an intraday high of 77,746.79, while the Nifty rose 250 points, or 1.03 per cent, to 24,245.85.
Ajay Bagga, banking and market expert, said markets are poised for “a constructive start” following the extended weekend.
“IT and pharma remain outperformers, while PSU banks and financials are likely to face headwinds. Energy stocks will be in sharp focus through the week given Project Freedom,” Bagga said.
Sectorally, buying interest was broad-based, with auto, realty, metal, FMCG and energy stocks leading gains. The Nifty Auto, Nifty Realty, Nifty Metal, Nifty FMCG and Nifty Oil & Gas indices advanced up to nearly 2 per cent.
However, some index heavyweights remained under pressure. Kotak Mahindra Bank, Dr Reddy’s Laboratories, TCS, Eternal, ITC and Bharti Airtel were among the top laggards on the Nifty 50.
On the geopolitical front, US President Donald Trump said Washington would initiate efforts to assist vessels stranded in the Strait of Hormuz, calling it a “humanitarian gesture” aimed at helping neutral countries amid the ongoing US-Israeli conflict with Iran.
Tehran, meanwhile, said the US had responded to its 14-point peace proposal via Pakistan and that the reply is under review, although Trump indicated the proposal may not be acceptable.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said election-related cues may drive short-term market sentiment, but global factors will remain decisive.
“Today’s market action may be influenced by state election trends, particularly West Bengal, but this impact will likely be short-lived. The broader market direction will hinge on crude oil prices,” he said.
In commodities, Brent crude fell 66 cents, or 0.61 per cent, to $107.51 per barrel, while US West Texas Intermediate (WTI) dropped $2.83, or 2.77 per cent, to $99.11 a barrel.
Gold traded at ₹1,51,001 per 10 grams (24 karat), while silver prices stood at ₹2,46,302 per kg.
Asian markets also traded higher. Japan’s Nikkei 225 rose 0.38 per cent to 59,513, Singapore’s Straits Times gained 0.68 per cent, Hong Kong’s Hang Seng advanced 1.93 per cent to 26,273, Taiwan’s weighted index surged 4.20 per cent to 40,628, and South Korea’s KOSPI climbed 4.22 per cent to 6,882.
On the corporate front, several companies, including Bharat Heavy Electricals, Ambuja Cements, Aditya Birla Capital, Jindal Stainless, Godrej Properties, KEI Industries, Petronet LNG, Ather Energy, Exide Industries, Manappuram Finance, Tata Technologies, Wockhardt and Tata Chemicals, are scheduled to report their Q4 FY26 earnings.
(DD News)
