Mumbai: Indian stock markets kicked off Monday on a positive beat, bolstered by buying across global exchanges. The main blue‑chip indices were up to 0.1 % in the early session, with the Sensex trading at 85,354—an increase of 122 points—and the Nifty at 26,109, up 41 points.
The Nifty had already pushed a record high of 26,246 earlier in the week, before profit‑taking eased the rally. Its daily close above the 26,000 level highlights persistent buying interest, analysts noted.
“With the index still trading above its 20, 50, and 200 EMAs, the broader trend stays positive. Key resistance levels are placed at 26,100 and 26,250, while support stands at 26,000 and 25,900, supporting a buy‑on‑dips approach with disciplined stop‑losses,” they added.
Technology and banking names led the gains in the morning session. Shares such as Infosys, Tech Mahindra, HCL Tech, HDFC Bank, TCS, Maruti Suzuki, Titan Company, and Bajaj Finance rose between 0.4 % and more than 2 % on the Sensex.
However, several heavyweights pulled the market down. Eternal, M&M, Power Grid, BEL, Tata Motors Passenger Vehicles, Ultratech Cement, Bharti Airtel, and Kotak Mahindra Bank were among the top losers, falling as much as 1.2 %.
In the broader market, mid‑cap and small‑cap stocks were on the rebound. The Nifty MidCap index climbed 0.14 % while the Nifty SmallCap index gained 0.13 %. Market breadth remained nearly balanced, with 1,299 stocks falling and 1,214 advancing on the NSE.
Among sectoral indices, Nifty IT led the way with a 1.5 % jump, followed by Nifty PSU Bank, which added 0.7 %. On the flip side, Nifty Realty slipped 0.2 %, and Nifty India Defence dropped 1.3 %, making it the worst performer early on.
Analysts expect the market to track global cues and investor sentiment throughout the day.
“The most important catalyst for the rally will come from strong earnings growth. FY27 is likely to witness above 15 % earnings growth. This is a strong fundamental support,” market watchers said.
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