The Indian market ended in the green on Monday, lifted by easing concerns over Russian oil supplies following a meeting between the U.S. and Russian presidents, alongside optimism over the Indian government’s proposed goods and services tax (GST) reforms.
The BSE Sensex jumped 676.09 points, or 0.84%, to 81,273.75 at the close, while the NSE Nifty 50 advanced 245.65 points, or 1%, to end at 24,876.95.
Here’s how analysts read the market pulse:”The proposed rationalisation of GST is a sentiment booster for the domestic market,” said Vinod Nair, Head of Research at Geojit Investments, adding that the recent conclusion of the U.S. and Russia summit, without any escalation in geopolitical tensions, has helped ease investor anxiety.
“The automobile sector outperformed, emerging as a key beneficiary of the anticipated tax reforms. In H2FY26, we expect the consumption-led sectors to show some traction on account of demand revival,” said Nair.
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Live EventsUS marketsWall Street’s main indexes were subdued on Monday, in a quiet start to a week packed with corporate earnings reports from major retailers and the Federal Reserve’s annual symposium in Jackson Hole.
Investors also remained wary ahead of a meeting between U.S. President Donald Trump and Ukraine’s Volodymyr Zelenskiy on Kyiv’s conflict with Moscow. Trump has told Ukraine to give up hopes of getting back annexed Crimea or joining NATO, but will push for a peace deal with Russia.
Wall Street’s main indexes rallied over the past two weeks, with the blue-chip Dow hitting an intra-day record high on Friday, aided by interest rate cut expectations and a better-than-expected earnings season despite an uncertain trade environment.
European MarketsEuropean shares were little changed on Monday, with investors focussing on Ukraine and European leaders’ meeting with U.S. President Donald Trump, following a Russia-U.S. summit that ended without an immediate agreement.
The pan-European STOXX 600 index was down about 0.1% after hitting its highest level since March last week, which left the MSCI All Country World Index down 0.15%, also within touching distance of its record high from Friday.Tech ViewThe Nifty opened with a gap-up but faced initial resistance at 25,000, leading to an intraday decline due to profit booking at higher levels, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the sentiment, however, remains positive, with the potential to revisit 25,000 in the coming days.
Immediate support is placed at 24,800, below which the index may drift towards 24,500, said De, adding that on the higher side, a decisive move above 25,000 could trigger a larger rally in the market.
Most active stocks in terms of turnoverMaruti Suzuki (Rs 3,003 crore), Mahindra & Mahindra (Rs 1,969 crore), HDFC Bank (Rs 1,937 crore), Hero MotoCorp (Rs 1,864 crore), RIL (Rs 1,631 crore), Bajaj Finance (Rs 1,478 crore) and Bharti Airtel (Rs 1,355 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 termsVodafone Idea (Traded shares: 67.05 crore), Suzlon Energy (Traded shares: 17.52 crore), Ola Electric Mobility (Traded shares: 9.46 crore), Ashok Leyland (Traded shares: 8.08 crore), Tata Steel (Traded shares: 6.10 crore), YES Bank (Traded shares: 4.82 crore) and Eternal (Traded shares: 4.24 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interestShares of Maruti Suzuki, Pfizer, Hyundai Motor India, Ashok Leyland, PG Electroplast, Amber Enterprises and Godrej Industries were among the stocks that witnessed strong buying interest from market participants.
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52 Week highOver 156 stocks hit their 52 week highs today while 116 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Eternal, Mahindra & Mahindra, Maruti Suzuki and UltraTech Cement.
Stocks seeing selling pressureStocks which witnessed significant selling pressure were ITC, L&T, Eternal, Tech Mahindra, NTPC, Infosys and Sun Pharma.Sentiment meter bullishThe market sentiments were bearish. Out of the 4,365 stocks that traded on the BSE on Monday, 1,627 stocks witnessed declines, 2,562 saw advances, while 176 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)