Indian equity markets saw a strong rebound in early trading on Monday, following a global market rally and increased buying activity in major companies such as ITC and ICICI Bank. The BSE Sensex rose by 292.29 points, or 0.36 per cent, to 81,980.74, while the NSE Nifty climbed 54.55 points, or 0.22 per cent, to 25,069.15.
Among the top gainers in the Sensex were ITC, Kotak Mahindra Bank, HCL Technologies, Infosys, ICICI Bank, Tata Consultancy Services, and Bharti Airtel. On the other hand, companies like Titan, Adani Ports, NTPC, Power Grid, and HDFC Bank witnessed declines during early trading.
Global markets, including Tokyo, Shanghai, Hong Kong, and Seoul, also saw positive movements on Monday, with US markets closing in the green on Friday. Despite escalating tensions in the Middle East, global stock markets have remained resilient, attributed to the strong US economy and robust September job data.
Market experts are optimistic about the Indian markets for the week ahead, but caution that geopolitical concerns and the upcoming earnings season could impact market performance. Ajay Bagga, a banking and market expert, highlighted the need to monitor the evolving situation in the Middle East and the impact it may have on market sentiment. Additionally, the start of the earnings season later in the week will provide further insight into the economic landscape.
In terms of commodities, Brent crude, the global oil standard, saw a slight decline of 0.44 per cent to USD 77.71 per barrel. This movement in oil prices could have implications for the energy sector and overall market sentiment in the coming days.
Overall, the rebound in the Indian equity markets reflects a broader trend of positivity in global markets, driven by strong economic indicators and investor sentiment. As the week progresses, all eyes will be on key developments both domestically and internationally, shaping the trajectory of market movements and investment decisions.
