Indian Stock Market Seeks Stability Amid Global Uncertainties

The Indian stock market opened positively on Monday with both Nifty and Sensex recording gains. Yet, selling pressure persists amid global market influences. Despite the ongoing challenges, sectoral indices mostly witnessed upward trends, and key companies are set to release quarterly results today.

The Indian stock market indices marked a positive start to the week on Monday, with both Nifty and Sensex registering gains in the morning session. Nifty rose by 72 points, opening at 23,605.30, while Sensex saw an uplift of 283 points, reaching 77,863.54 at the opening.

Market analysts highlighted that the Indian market is currently oversold, suggesting that any decrease in selling intensity could lead to a market rebound. However, global financial environments remain bleak, with foreign investments gravitating towards US markets. Ajay Bagga, a Banking and Market expert, emphasized the ongoing negative global factors affecting emerging market stocks and currencies.

On the NSE, except for Nifty Media and Nifty Oil & Gas, all sectoral indices began the day positively. The Nifty Realty sector stood out with a 1.5% rise in the morning. Top gainers included Hero MotoCorp and Hindalco, while Dr. Reddy and Infosys topped the losers' list. Significant quarterly results for companies like Waaree Energies are expected today, potentially impacting market movements.

Akshay Chinchalkar from Axis Securities noted the support levels for the Nifty, with the index trading close to crucial technical thresholds. Investors are keeping a close watch on global market trends; notable fluctuations were observed in other Asian markets, with mixed outcomes from indices such as Japan's Nikkei and the Taiwan Weighted Index.

(With inputs from agencies.)