The Indian stock market opened in the green on Monday, with buying seen in the auto, IT, PSU bank, and pharma sectors during morning trade. Sensex had gained 273.49 points or 0.34 per cent and was trading at 79,675.78. At the same time, Nifty was trading at 24,255.15 after climbing 74.35 points or 0.31 per cent.
The market trend stayed mixed. While on the National Stock Exchange, 1003 stocks traded in the green, 1,124 traded in red.
Nifty Bank was at 51,103.35 after going up by 315.90 points or 0.62 per cent. Nifty Midcap 100 index was at 55,385.65 after rising 107.70 points or 0.19 per cent. Nifty Smallcap 100 index was at 17,873.55 after gaining 25.65 points or 0.14 per cent.
The major gainers in the Sensex pack were ICICI Bank (NS:ICBK), SBI (NS:SBI), NTPC (NS:NTPC), Tata Motors (NS:TAMO), Bajaj Finserv (NS:BJFS), Infosys (NS:INFY), Asian Paints (NS:ASPN), and Sun Pharma (NS:SUN). On the other hand, L&T, ITC, Tech Mahindra (NS:TEML), JSW Steel (NS:JSTL), Power Grid (NS:PGRD), and Bharti Airtel (NS:BRTI) were the major losers.
Major gainers in the Nifty pack were ICICI Bank, BPCL, Asian Paints, Nestle (NS:NEST) India, and Sun Pharma. The major losers of the Nifty pack were JSW Steel, L&T, Apollo Hospital, Tata Steel (NS:TISC), and Trent (NS:TREN).
Asian markets traded in red. Markets like Jakarta, Hong Kong, and Bangkok traded in red. On the contrary, markets like Tokyo, Shanghai, and Seoul traded green. The US stock market closed in red colors the previous trading day.
According to market experts, on a positive opening, 24,150 can give support to Nifty after that 24,050 and 23,900. On the higher side, 24,300 can be immediate resistance levels, followed by 24,400 and 24,500.
Charts for Bank Nifty indicate support in the near term at 50,600, followed by 50,400 and 50,200, they said. If it continues moving up, initial key resistance will be at 51,000, then at 51,200 and 51,400, they added.
Equities sold by foreign institutional investors were worth Rs 3,036 crore on October 25, whereas domestic institutional investors bought equities valued at Rs 4,159 crore on the same day.
According to experts, market outlook this week will depend on the next set of July-September quarter results, scheduled monthly derivatives expiry, FII activities, geopolitical tensions, US Presidential election polls, and global and domestic macroeconomic data.
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