Indian equity benchmark indices opened higher on Monday, recovering from the previous session’s sharp decline as upbeat global cues and gains across major Asian markets boosted investor sentiment.
The BSE Sensex rose 421.22 points, or 0.56 per cent, to 75,196.96 in early trade, while the NSE Nifty 50 advanced 103.95 points, or 0.44 per cent, to 23,651.70.
The positive start mirrored strength across Asian markets, with Japan’s Nikkei 225 gaining 0.74 per cent, Hong Kong’s Hang Seng rising 0.82 per cent, and South Korea’s Kospi surging more than four per cent. The GIFT Nifty also indicated a firm opening for domestic equities.
Market experts attributed the rebound to improving global risk appetite and resilience in regional markets following Friday’s correction in Indian equities.
Analysts, however, cautioned that benchmark indices remain near crucial technical resistance zones.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said Nifty faces resistance near its 50-day simple moving average (SMA) at 23,700, while Sensex faces a similar hurdle around 75,300.
According to Chouhan, failure to sustain above these levels could keep market sentiment weak and drag Nifty towards the 23,300-23,200 zone. Conversely, a decisive move above 23,700 could trigger a rally towards 23,800 and potentially 24,000 levels.
In commodities, Brent crude rose 2.15 per cent to USD 93.08 per barrel, while crude oil gained 2.57 per cent to USD 89.61. Gold prices slipped 0.65 per cent to USD 4,511.67 per ounce.
