Indian equity markets began the week on a bullish note as key benchmark indices opened higher on Monday, supported by strong institutional buying, improving corporate earnings, and upbeat festive demand trends.
The NSE Nifty 50 climbed 154 points (0.60%) to start the session at 25,864, while the BSE Sensex opened 515 points (0.61%) higher at 84,468. The momentum was not limited to largecaps alone—Bank Nifty gained 307 points (0.53%) to open at 58,020, indicating sustained strength in banking counters.
Broader markets followed suit as midcaps and smallcaps extended gains. The Nifty Midcap index rose 271 points (0.46%) to open at 59,174, reflecting investor confidence across segments.
Momentum Drivers: Earnings, Demand, and Buying Support
According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, the rally is being powered by strong domestic institutional investor (DII) activity, marginal foreign fund inflows, and encouraging spending trends during the festive season. “The momentum in the market, triggered by sustained huge DII buying, marginal FII buying, and news of brisk festival season sales of automobiles and white goods, is set to continue with more positive news,” he said.
Vijayakumar pointed out that early Q2 FY25 earnings have boosted sentiment, with HDFC Bank and Reliance Industries standing out. “The results of HDFC Bank, particularly the improving asset quality, can sustain the momentum in Bank Nifty, which is already at record highs,” he added.
He also noted that short-covering in recent sessions is extending gains in largecap stocks, while the long-standing concern over subdued earnings growth “is now being addressed.”
Top Gainers and Laggards in Early Trade
Among the Nifty 50, the leading gainers in the morning session were:
- Reliance Industries
- Kotak Mahindra Bank
- Axis Bank
- Shriram Finance
- HDFC Bank
On the other hand, the key laggards at this hour included:
- ICICI Bank
- UltraTech Cement
- JSW Steel
- Wipro
- Tata Steel
Major Stock Movers to Watch
Several heavyweight stocks made notable moves at the opening bell. The key early movers included:
- ICICI Bank
- Infosys
- Reliance Industries
- HDFC Bank
- Bharti Airtel
These counters are expected to remain in focus through the trading session due to strong earnings momentum, sectoral cues, and index weightage.
Outlook for the Day
Analysts believe the ongoing rally may sustain if earnings and demand trends remain supportive. With festive season sales showing strength and Q2 results surprising on the upside, investors are likely to stay optimistic, particularly in banking, telecom, and energy sectors.
The record performance of Bank Nifty, coupled with renewed interest in largecaps, could further drive market breadth—unless unexpected global headwinds emerge.
