Indian stock markets kicked off the week with robust momentum, staging a sharp rebound from the previous session’s weakness. By late morning on Monday, the BSE Sensex was up over 800 points, trading at 80,020.64, while the NSE Nifty50 rose 221.15 points to 24,260.50. All broader market indices mirrored this buoyant sentiment, pointing to strong underlying strength.
Several key factors contributed to today’s rally after last week’s dip. Foremost among them was the strong performance of heavyweight stocks. Shares of Reliance Industries surged over 4%, fueled by optimism following strong Q4 earnings. M&M also gained significantly, buoyed by investor enthusiasm around its plans to acquire a majority stake in SML Isuzu. Banking and financial services stocks further amplified market momentum, underscoring widespread confidence across sectors.
The rally received additional support from foreign institutional investors (FIIs), who have dramatically reversed their earlier selling trend. Over the past eight days, FIIs have pumped in Rs 32,465 crore, offering a much-needed liquidity boost. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted that despite prevailing geopolitical uncertainties, markets often display resilience by climbing “walls of worry.” The weakening of US economic indicators and a softening dollar have made emerging markets like India increasingly attractive, drawing in global capital flows.
On the technical front, the outlook remains cautiously optimistic. Anand James, Chief Market Strategist at Geojit Financial Services, noted that despite recent volatility, critical support levels near 23,670 are holding firm. If Nifty maintains levels above 24,190, it could target a further rise to the 24,500–24,850 range. Strong FII flows, robust corporate earnings, and renewed buying in blue-chip stocks are key tailwinds that could propel markets toward fresh highs, even amid intermittent corrections.
Speaking to a news outlet, Mandar Bhojane, Equity Research Analyst at Choice Broking said, “Technically, Nifty now has immediate support at the psychological level of 24,000, followed by deeper cushions at 23,800 and 23,600. On the upside, resistance is placed at 24,300, then 24,400 and 24,600. A breakout above 24,600 could trigger a rally toward 25,200 in the coming days. However, the formation of neutral candles in the last few sessions indicates indecision, often a precursor to either consolidation or a mild pullback.”
While pockets of caution persist, today’s rally serves as a reminder of the market’s underlying strength and the bullish sentiment that continues to drive investor behavior. With fundamentals aligning favorably, India’s equity markets look well-poised to continue their upward march in the near term.
