Indian stock markets opened the week on a subdued note on Monday, as investors remained cautious amid persistent foreign fund outflows and high valuation concerns that have weighed on sentiment for over a year.
At 11 AM, the Nifty 50 was up 92 points at 24,988, while the BSE Sensex advanced 310 points to trade at 81,521. Earlier at the opening bell, the Nifty had risen 22.30 points or 0.09 per cent to 24,916.55, and the Sensex gained 67.62 points or 0.08 per cent to 81,274.79.
The markets have underperformed for the past 13 months, pressured by continuous foreign institutional investor (FII) selling, tariff concerns, and expensive valuations that continue to limit upside momentum.
Among the key gainers on the Sensex were Bajaj Finance, Kotak Mahindra Bank, Bajaj Finserv, Axis Bank, TCS, HCL Tech, HDFC Bank, and Eternal. On the other hand, Power Grid, Adani Ports, Tata Steel, and Tata Motors were among the major laggards in early trade.
Broader market indices mirrored the benchmark trend, with the Nifty 100 up 0.09 per cent, the Nifty Midcap 100 gaining 0.10 per cent, and the Nifty Smallcap 100 climbing 0.29 per cent. Sectorally, Nifty FMCG, Media, Pharma, and Oil & Gas were in the red, while others saw marginal gains.
Meanwhile, LG Electronics India's Initial Public Offering (IPO) opened for pre-apply on Monday. The price band for the Rs 11,607 crore issue has been set between Rs 1,080 and Rs 1,140 per share. The IPO will open for subscription from October 7 to October 9, 2025.
On the global front, US President Donald Trump announced that Hamas had agreed to his “Peace Formula” involving demilitarisation and the release of Israeli hostages. However, the announcement had little impact on market sentiment, as investors continued to monitor the geopolitical situation closely.
A major development came from Japan, where the ruling party elected Sanae Takaichi, a monetary and fiscal dove and the first-ever female prime minister candidate. The news fuelled a strong rally, with Japan’s Nikkei 225 index soaring over 4.6 per cent in Monday’s session.
Elsewhere in Asia, performance was mixed. Hong Kong’s Hang Seng index slipped 0.8 per cent, while Singapore’s Straits Times index edged up 0.08 per cent.
Oil prices also strengthened after OPEC+ announced a smaller-than-expected output increase. Brent crude rose 1 per cent to USD 65.16 per barrel, while US West Texas Intermediate (WTI) climbed 1 per cent to USD 61.46. |
