Mumbai: Indian benchmark indices opened higher on Monday, taking positive cues from its Asian peers, as traders geared up for Donald Trump’s inauguration as the 47th US President.
At around 9.35 am, Sensex was trading at 76,701.3, up nearly 100 points while Nifty was at 23,215.65, nearly flat.
Shares of Kotak Mahindra Bank, Wipro, Bharti Airtel and State Bank of India led gains in Nifty, while ICICI Bank, HDFC Bank, SBI Life, Infosys, and Tata Motors weighed on the index.
Nine out of the 12 sectors on the NSE advanced, with Nifty Media, Nifty Realty rising the most on Monday. Nifty Metal and Auto fell the most in early trade.
According to market watchers, globally, stock markets will be in a wait and watch mode as Trump 2.0 unfolds today.
“Many executive actions, particularly on immigration, are expected from the President starting from day one. Markets will wait and watch for the nature of the decisions and their likely impact,” they noted.
Meanwhile, the latest IMF report on Global Economic Outlook projects ‘solid’ growth of 6.5 per cent for 2025 and 2026 for India despite the recent deceleration in growth.
“This is positive. There is a flurry of Q3 results this week and the market will respond to the results depending on, apart from the numbers, the outlook and management commentary,” said experts.
In the US, stocks closed sharply higher on Friday, sending the S&P 500 and Dow Jones Industrial Average to their biggest weekly gains, as market participants prepare for the inauguration of Trump.
Akshay Chinchalkar, Head of Research, Axis Securities, said this week represents an important time-window for bulls and bears alike, so its a crucial week that will set the tone for the Nifty’s tactical trend.
“Meanwhile, the smallcap and midcap benchmarks were up for four straight days through Friday, the longest such winning streak since 11th December, which means sentiment is starting to pivot more toward risk-on than risk-off,” he added.
(IANS)
