Stock Market Today: Sensex, Nifty Rally After Last Week's Losses

As of 9:18 AM, the BSE Sensex climbed close to 250 points and traded above 81,350, while the NSE Nifty50 gained nearly 85 points and crossed 24,800 in the market.

The Nifty Midcap Select stood out and climbed 0.49 per cent in the morning session. Sectorally, the Media index dominated and jumped 0.72 per cent.

Source : ABPLIVE AI

The stock markets began Monday with a positive sentiment as indices tried to recover from the losses made in trading last week. While the pre-open trading hour indicated muted beginning to today’s session, both benchmark indices, Sensex and Nifty attempted a strong rally as markets opened.

As of 9:18 AM, the BSE Sensex climbed close to 250 points and traded above 81,350, while the NSE Nifty50 gained nearly 85 points and crossed 24,800 in the market.

On the 30-share Sensex, PowerGrid, Asian Paint, UltraTech Cement, Bharti Airtel, and Eternal dominated in green. On the other hand, the laggards so far were driven by Tata Motors, Sun Pharma, Adani Ports, Kotak Mahindra Bank, and IndusInd Bank.

In the broader markets, the indices traded mostly in green, however, the gains remained modest. The Nifty Midcap Select stood out and climbed 0.49 per cent in the morning session. Sectorally, the Media index dominated and jumped 0.72 per cent.

V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, noted, "The safe haven buying is keeping gold firm but dollar continues to be weak. Interestingly, there is no panic in equity markets. Markets will be severely impacted only if Iran closes the Strait of Hormuz triggering a huge spike in crude. This appears to be a low probability event now". 

The Nifty 50 index recorded a lacklustre performance last week, ending with a loss of 284 points. A bearish tone prevailed throughout the week, largely driven by external geopolitical factors. After holding steady within a narrow band for nearly three weeks, the index breached a crucial support level, a move that analysts interpret as a signal of a potential trend reversal in the sector.

Commenting on the technical setup, Sunil Gurjar, SEBI-registered research analyst and founder of Alphamojo Financial Services, said, "Nifty 50 did not perform well last week, remaining down by 284 points. The sector started bearish and ended the same way due to geopolitical reasons. The price currently did a breakdown below support, indicating a continuation of the downtrend in the sector. After forming a tight range for the last 20 days, its breakdown below support signals a reversal trend in the sector. Technically, it is trading above all key moving averages, further signaling more upward momentum."

Global Markets And Impact Of Israel-Iran War

Asian markets started the week on a cautious note, reflecting mixed investor sentiment. Japan and South Korea registered modest advances, while other markets lagged. Hong Kong's Hang Seng index edged down, Taiwan’s Weighted index dropped, and the Straits Times in Singapore also declined.

Geopolitical tensions in the Middle East, particularly the ongoing Israel-Iran conflict, have added to the global market unease. However, analysts believed the long-term implications may be limited. The rise in crude oil prices and continued supply pressure are seen as manageable risks rather than structural threats to economic stability.

Ajay Bagga, a banking and market expert, shared his perspective with ANI: "Two countries, separated by 700 km from each other, are causing a major risk-off sentiment and global geopolitical turmoil. As with the short-lived impact of the Gaza conflict, markets will shrug off the Israel-Iran conflict this week and move on, as the boundaries get defined and the risk of a regional war recedes."

He also explained that both Iran and Israel have a minor influence on global economic output, contributing less than 1 per cent to global GDP collectively and accounting for a combined population of under 100 million.