Sensex gained over 400 points and Nifty opened higher as easing crude oil prices and buying in realty and auto stocks supported market sentiment.

Sensex, Nifty Begin On A Strong Note |

Mumbai: Indian equity markets began Monday’s session on a positive note as softer crude oil prices and gains in realty and automobile stocks supported investor sentiment.

At 9.20 am, the BSE Sensex advanced 411 points, or 0.55%, to 74,706. The NSE Nifty 50 rose 33 points, or 0.14%, to 23,379.

However, the broader market remained under pressure. The Nifty Midcap 100 declined 0.19%, while the Nifty Smallcap 100 slipped 0.04%, indicating cautious trading beyond benchmark stocks.

Realty And Auto Stocks Lead Gains

Sectoral indices on the NSE traded mixed during early deals. The Nifty Realty index emerged as the biggest gainer, rising 1.04%, followed by the Nifty Auto index with an increase of 0.65%.

`;

Information technology and public-sector bank stocks recorded moderate losses, limiting the overall gains in the Nifty.

Crude Oil Falls Below $102

Brent crude oil declined below $102 per barrel as oil movement through the Strait of Hormuz increased. The correction provided some relief to Indian markets despite continued tensions in the Middle East and the Russia-Ukraine conflict.

Lower crude prices are favourable for India as the country depends heavily on imported oil. However, US 10-year bond yields hovering near 5% remain a major concern for global equities.

Key Levels For Nifty And Bank Nifty

Market analysts placed immediate support for the Nifty at 23,100–23,200, while resistance is expected around 23,400–23,500.

Bank Nifty had closed the previous session 0.54% higher at 56,358.70 after recovering from an intraday low of 56,073.55. Support is seen at 55,800–56,000, while resistance lies between 56,800 and 57,000.

Asian Markets Trade Higher

Asian markets largely advanced, with South Korea’s Kospi rising 1.84% and Japan’s Nikkei gaining 1.38%. Hong Kong’s Hang Seng, China’s Shanghai Composite and Shenzhen index also traded higher.

On September 18, foreign institutional investors purchased Indian equities worth ₹599 crore, while domestic institutional investors recorded net buying of ₹1,019 crore.

Add As a

Trusted Source