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As Indian markets gear up for Monday’s session, all eyes are on global trends, corporate earnings, and foreign fund flows. Will Sensex and Nifty sustain their upward momentum or face resistance amid profit booking and weak FII activity?
Nifty ended last week at 25,722.10, snapping a four-week winning streak.
New Delhi: Indian equities are set for a steady to mildly positive open on Monday as global cues remain upbeat, with Wall Street ending higher and Asian markets trading in the green. Easing US Treasury yields, stable crude prices, and optimism around festive demand are likely to support market sentiment. However, traders may remain cautious ahead of key economic data releases and persistent foreign investor outflows.
On Friday, Indian indices ended marginally higher after a volatile session. The BSE Sensex closed at 79,625, up 127 points, while the NSE Nifty 50 settled at 24,134, gaining 42 points. Broader markets outperformed, with the Nifty Midcap 100 rising 0.6% and the Smallcap 100 gaining 0.9%. Sectorally, realty, pharma, and PSU bank stocks led the gains, while IT and FMCG witnessed mild profit booking.
US markets closed higher on Friday as investors cheered softer economic data, which boosted hopes that the Federal Reserve may maintain rates at current levels. The Dow Jones Industrial Average rose 0.6%, the S&P 500 gained 0.7%, and the Nasdaq Composite advanced 0.9%. Asian equities followed suit on Monday, with Japan’s Nikkei 225 up 0.8%, Hong Kong’s Hang Seng adding 0.5%, and China’s Shanghai Composite inching 0.3% higher.
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Foreign Institutional Investors (FIIs) remained net sellers, offloading shares worth Rs 624 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 1,148 crore. Analysts note that consistent DII buying has provided much-needed support to the market amid global uncertainty.
The Indian Rupee ended almost flat at Rs 83.26 per US dollar, supported by steady inflows and a softer dollar index. Meanwhile, Brent crude prices hovered near Rs 90 per barrel, remaining range-bound amid concerns over slowing global demand and rising US stockpiles.
A slew of quarterly results arrived after the bell. SBFC Finance reported strong growth, revenue (calculated NII) up 33.2% and net profit up 30%. JK Cement showed healthy revenue and EBITDA expansion with net profit up ~27.6%. GHCL posted weaker numbers, reporting a ~31% fall in net profit but approved a buyback of up to Rs 300 crore. Urban Company reported revenue growth but deeper EBITDA losses as it invests in international expansion. Tata Chemicals saw a sharp YoY drop in consolidated net profit. Other notable results included mixed showings from manufacturing and consumer names — a reminder that earnings are adding nuance to market positioning this week.
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The Nifty 50 formed a small bullish candle on the daily chart, suggesting near-term consolidation. Experts believe that a breakout above 24,200 could trigger a rally towards 24,350–24,400, while support is placed at 24,000. The Bank Nifty index remains in a narrow range with resistance at 52,300 and support at 51,700.
Overall sentiment remains cautiously optimistic, with traders advised to stay selective. Analysts recommend focusing on quality midcaps, PSU banks, and infrastructure-related stocks that may benefit from the ongoing festive spending. Volatility is likely to persist ahead of key domestic macro data later this week.
