Indian Markets Surge as Investors Eye Trump's Swearing-In

Indian stock markets opened higher on Monday, ahead of Donald Trump's swearing-in ceremony. The Nifty 50 and BSE Sensex indices demonstrated positive momentum, while investors anticipated the President’s initial policy moves. Key gainers included Wipro and Kotak Bank, as attention turned to upcoming quarterly earnings announcements.

Indian stock markets experienced a positive opening on Monday morning, coinciding with the anticipation surrounding the oath ceremony of incoming US President Donald Trump. The Nifty 50 index began trading at 23,290.40, reflecting a rise of 87.20 points or 0.38 percent. Meanwhile, the BSE Sensex showed a robust increase of 359.20 points or 0.47 percent, opening at 76,978.53.

Market experts predict significant market reactions in response to Trump's inaugural speech and his initial executive actions. Ajay Bagga, a banking and market expert, emphasized the market's focus on Trump's swearing-in and subsequent executive orders, noting expectations for Trump's signature on approximately 100 executive orders in the early days of his second term. Additionally, optimism about a potential US-China trade deal and the implementation of a ceasefire between Israel and Hamas has been fueling the Asian markets.

Sectoral indices displayed varied performances, with Nifty Auto, Nifty FMCG, and Nifty Metal seeing declines, while other sectors picked up pace. Notably, Nifty Private Bank rose by around 1 percent. Within the Nifty 50, major gainers included Wipro and Kotak Bank, which each surged over 6 percent. Conversely, Shriram Finance, SBI Life, and IndusInd Bank emerged as top losers.

Market strategist Akshay Chinchalkar of Axis Securities highlighted the importance of the 23,396 to 23,471 range as a resistance point for potential rallies, while support can be expected between 23,048 and 23,106. He stressed the current week's significance for shaping the Nifty's tactical trends. Among today's scheduled quarterly earnings announcements are major Indian companies such as Zomato, Indian Railway Finance Corporation, and Dixon Technologies.

Elsewhere in Asia, major markets also exhibited gains, with Japan's Nikkei 225 index climbing 1.03 percent and Hong Kong's Hang Seng increasing by more than 2 percent. Such positive trends indicate a broader investor optimism across the region.

(With inputs from agencies.)