Indian markets opened in green on Monday, with buying seen in the automobile, IT, and PSU bank sectors. The Sensex was trading at 81,653.83 after gaining 429.08 points or 0.53 per cent in early trade. Nifty opened at 24,955.50 after climbing 101.45 points or 0.41 per cent.
Market trend positive. On the NSE, 1,509 stocks traded green, while 602 stocks traded in red.
On the BSE, simultaneously 1,727 stocks traded green, and 807 stocks traded red.
Nifty Bank had closed at 52,335.50 with an increase of 241.30 points or 0.46 percent. The Nifty Midcap 100 index was trading at the 58,954.85 level after slipping 305.70 points or 0.52 percent. The Nifty Smallcap 100 index had closed at 19,122.45, gaining 44.65 points or 0.23 percent.
Top Sensex gainers were HDFC Bank(NS:HDBK), Axis Bank(NS:AXBK), Wipro(NS:WIPR), and Tech Mahindra(NS:TEML). The losers were Kotak Mahindra(NS:KTKM), Bharti Airtel(NS:BRTI), M&M(NS:MAHM), and NTPC(NS:NTPC).
Top Nifty gainer were HDFC Bank, SBI Life Insurance(NS:SBIL), Axis Bank, and Tata Consumer Products(NS:TACN) Limited. Kotak Mahindra, BPCL, Tata Consumer Products(NS:TACN) Limited, and Bharti Airtel(NS:BRTI) were the losers.
In the Asian markets, Jakarta, Shanghai, and Tokyo were trading in the green. It was also noted that the markets of Bangkok and Hong Kong were trading in the red at the same time. The US stock market closed in the green on its last trading day.
Global stock market rally appears quite intact. Experts find this scenario credible because the US markets have set new record highs.
The steady fall in crude and stability in the US bond yields gives resilience to the stock market, with all the lingering tensions in the Middle East, they added.
"More importantly, the financial segment is doing well and is in the pink of health. Q2 results of leading banking names like HDFC, Kotak and Axis indicate improving prospects," said market watchers.
On October 18, FIIs sold equities worth Rs 5,485 crore, while the domestic institutional investors bought equities worth Rs 5,214 crore on the same day.
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