Indian Markets Open on a High as Nifty 50, Sensex See Gains
Indian markets opened positively on Monday with marginal gains in indices. The Nifty 50 index rose by 0.23% and BSE Sensex by 0.22%. Broader markets and most sectoral indices also saw gains. Key insights include top gainers and losers, international market trends, and expert comments.
![Indian Markets Open on a High as Nifty 50, Sensex See Gains](https://devdiscourse.blob.core.windows.net/devnews/15_07_2024_10_10_09_4940071.jpg)
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Indian markets kicked off the week on a high note, with both major indices recording gains during the opening trade on Monday. The Nifty 50 index advanced by 0.23 percent or 52 points, reaching 24,555.30, while the BSE Sensex index climbed by 0.22 percent or 146 points to 80,680 in early trading.
Supporting this positive start, all broader market indices traded in the green. Gains were posted across Nifty Next 50, Nifty 100, Nifty Small Cap, and Nifty Midcap. On the sectoral front, most indices opened with gains, except for Nifty FMCG, Nifty Metal, and Nifty Realty.
Highlighting the day's top performers, HCL Tech, ONGC, UltraTech Cement, Bajaj Auto, and Shriram Finance led the Nifty 50 gains, while Tata Steel, Asian Paints, Grasim, HDFC Life, and Axis Bank were the top losers. Market expert Ajay Bagga remarked, 'The key focus for the markets today is the attack on former US President Donald Trump at a campaign rally. This 'Trump Trade' influenced Asian markets as they opened today. Japan is observing 'Marine Day,' celebrating the ocean's blessings and economic benefits. By noon in India, we should have clearer bond futures pricing from the European markets.'
Bagga added that the US dollar's strength indicated market expectations that the assassination attempt on Trump might increase his chances of winning the November 5th US Presidential Elections. In Asian markets, the Hang Seng index in Hong Kong fell by 1.46 percent, Taiwan's Weighted Index dropped by 0.16 percent, Indonesia's Jakarta Composite declined 0.22 percent, while China's Shanghai Composite gained 0.11 percent.
Over in the US, markets ended on a positive note on Friday. The S&P 500 and Dow Jones both hit new intraday record highs, closing up by 0.55 percent and 0.62 percent, respectively. The Nasdaq Composite also rose by 0.63 percent, buoyed by expectations of an impending Fed rate cut and positive economic indicators.
(With inputs from agencies.)