Indian headline indices ended Monday on a strong note led by strong action in bank and auto stocks with able support from IT stocks. While Nifty gained 221.75 points or 0.91% to close at 24,585.05, the 30-stock S&P BSE Sensex finished at 80,604.08, gaining by 746.29 points or 0.93%.
Here's how analysts read the market pulse:
Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities likened Nifty's surge to the rising from the ashes. "The earlier breakdown now seems to have given way to a short-term pullback, as the market brushed aside recent weakness. We’re not completely out of the woods yet, but Monday’s bounce from the recent low carries enough steam to power further gains. Immediate support lies at 24,337, with the next upside targets seen around 24,850 and 25,000," De said.
US markets
Equity markets moved little in cautious European and US trading Monday as investors await key US inflation data this week that could offer guidance on rate cuts long sought by President Donald Trump.
Reports that chip giants Nvidia and AMD would give Washington a 15-percent cut of the revenue from AI sales to China also bolstered expectations of a new pause on Washington's tariffs against China.
Also in view is a high-stakes summit between Trump and Russian President Vladimir Putin on Friday in Alaska, which could pave the way for a Ukraine ceasefire and ease tough Western sanctions against Moscow.
The key Wall Street indices came under moderate pressure after the Nasdaq climbed to another record high on Friday, bolstered by solid earnings from tech giants in particular.
European Markets
European shares ticked lower on Monday, as investors refrained from making big bets ahead of an eventful week packed with tariff negotiations and ending with talks between the U.S. and Russia on the war in Ukraine.
The pan-European STOXX 600 index closed 0.1% lower, retreating from gains earlier in the day, but still hovering near its highest level since July 31.
Investors will be bracing for the summit on Friday in Alaska, where Kyiv fears Russian President Vladimir Putin and U.S. President Donald Trump may try to dictate terms for ending the 3-1/2-year war.
Tech View
Decoding Nifty on the technical charts, Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking said that Nifty has regained its 100-DMA, which aligns with the psychological mark of 24,500, now acting as the immediate support, with the next cushion at 24,340. "The price structure indicates scope for a further pullback towards 24,750. Although the broader trend remains weak, the short-term bias has turned mildly positive, driven by a short-covering rally," he said.
Most active stocks in terms of turnover
National Securities Depositories Limited (NSDL, Rs 6,134 crore), PG Electroplast (Rs 184 crore), HB Leasing Finance (HBL, Rs 155 crore), Reliance Industries (RIL, Rs 124 crore), State Bank of India (SBI, 94 crore), Garden Reach Shipbuilders (GRSE, Rs 68 crore) and Bharti Airtel (Rs 62 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
NSDL (Traded shares: 4.6 crore), Avance (Traded shares: 3.8 crore), Vodafone Idea (Traded shares: 2.9 crore), SpiceJet (Traded shares: 57.34 lakh), Yes Bank (Traded shares: 51.52 crore), EaseMyTrip (Traded shares: 42.18 lakh) and Suzlon Energy (Traded shares: 39.14 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
Shares of Adani Enterprises, Tata Motors, HBL Engine, DOMS Industries, Sai Life Sciences, Transformers & Rectifiers, Home First Finance and One 97 Communications (Paytm) were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 107 stocks hit their 52 week highs today while 42 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Aarti Pharmalabs, GRSE, APL Apollo Tubes, Bright Outdoor Media and Divis Laboratories.
Stocks seeing selling pressure
Among the large cap names was Hero Motocorp. Other stocks which witnessed significant selling pressure were PG Electroplast, Action Construction Equipment, Amber Enterprises, Ptc Industries, Schneider Electric India and Voltas.
Sentiment meter favours bulls
Action in heavyweights like HDFC Bank, RIL and SBI lifted the markets the most, ensuring a positive closing. Out of the 4,337 stocks that traded on the BSE on Monday, 2,181 stocks witnessed advances, 1,983 saw declines while 173 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Here's how analysts read the market pulse:
Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities likened Nifty's surge to the rising from the ashes. "The earlier breakdown now seems to have given way to a short-term pullback, as the market brushed aside recent weakness. We’re not completely out of the woods yet, but Monday’s bounce from the recent low carries enough steam to power further gains. Immediate support lies at 24,337, with the next upside targets seen around 24,850 and 25,000," De said.
US markets
Equity markets moved little in cautious European and US trading Monday as investors await key US inflation data this week that could offer guidance on rate cuts long sought by President Donald Trump.
Reports that chip giants Nvidia and AMD would give Washington a 15-percent cut of the revenue from AI sales to China also bolstered expectations of a new pause on Washington's tariffs against China.
Also in view is a high-stakes summit between Trump and Russian President Vladimir Putin on Friday in Alaska, which could pave the way for a Ukraine ceasefire and ease tough Western sanctions against Moscow.
The key Wall Street indices came under moderate pressure after the Nasdaq climbed to another record high on Friday, bolstered by solid earnings from tech giants in particular.
European Markets
European shares ticked lower on Monday, as investors refrained from making big bets ahead of an eventful week packed with tariff negotiations and ending with talks between the U.S. and Russia on the war in Ukraine.
The pan-European STOXX 600 index closed 0.1% lower, retreating from gains earlier in the day, but still hovering near its highest level since July 31.
Investors will be bracing for the summit on Friday in Alaska, where Kyiv fears Russian President Vladimir Putin and U.S. President Donald Trump may try to dictate terms for ending the 3-1/2-year war.
Tech View
Decoding Nifty on the technical charts, Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking said that Nifty has regained its 100-DMA, which aligns with the psychological mark of 24,500, now acting as the immediate support, with the next cushion at 24,340. "The price structure indicates scope for a further pullback towards 24,750. Although the broader trend remains weak, the short-term bias has turned mildly positive, driven by a short-covering rally," he said.
Most active stocks in terms of turnover
National Securities Depositories Limited (NSDL, Rs 6,134 crore), PG Electroplast (Rs 184 crore), HB Leasing Finance (HBL, Rs 155 crore), Reliance Industries (RIL, Rs 124 crore), State Bank of India (SBI, 94 crore), Garden Reach Shipbuilders (GRSE, Rs 68 crore) and Bharti Airtel (Rs 62 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
NSDL (Traded shares: 4.6 crore), Avance (Traded shares: 3.8 crore), Vodafone Idea (Traded shares: 2.9 crore), SpiceJet (Traded shares: 57.34 lakh), Yes Bank (Traded shares: 51.52 crore), EaseMyTrip (Traded shares: 42.18 lakh) and Suzlon Energy (Traded shares: 39.14 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
Shares of Adani Enterprises, Tata Motors, HBL Engine, DOMS Industries, Sai Life Sciences, Transformers & Rectifiers, Home First Finance and One 97 Communications (Paytm) were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 107 stocks hit their 52 week highs today while 42 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Aarti Pharmalabs, GRSE, APL Apollo Tubes, Bright Outdoor Media and Divis Laboratories.
Stocks seeing selling pressure
Among the large cap names was Hero Motocorp. Other stocks which witnessed significant selling pressure were PG Electroplast, Action Construction Equipment, Amber Enterprises, Ptc Industries, Schneider Electric India and Voltas.
Sentiment meter favours bulls
Action in heavyweights like HDFC Bank, RIL and SBI lifted the markets the most, ensuring a positive closing. Out of the 4,337 stocks that traded on the BSE on Monday, 2,181 stocks witnessed advances, 1,983 saw declines while 173 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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