Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, ended the trading session in green on Monday, driven by strong performance in banking and automobile sectors, with ICICI Bank and Axis Bank leading. Positive global market conditions supported the bullish trend.
The S&P BSE Sensex finished at 74,169.95, rising by 341.04 points or 0.46%, whilst the broader Nifty50 closed at 22,508.75, advancing by 111.55 points or 0.5%.
The Nifty index showed a predominant positive trend, with 33 stocks recording gains and 17 experiencing declines.
Dr Reddy's Laboratories, SBI Life Insurance, Bajaj Finserv, Trent and Axis emerged as the top gainers, whilst Wipro, Bharat Petroleum Corporation (BPCL), Hero MotoCorp, ITC and Nestle India were the top losers.
Global market uncertainties and potential US recession concerns could affect domestic market momentum this week. Nevertheless, experts indicate that recent valuation adjustments, coupled with positive factors including reduced crude oil prices, weakening Dollar Index, and anticipated domestic earnings growth in subsequent quarters, could help stabilize market fluctuations.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services says, “The near-term market trend is likely to be stable with a positive bias. The positive factors are the steadily declining trend in FII outflows and the outperformance of India over the US last week. This positive trend has fundamental support from the bounce back in FY25 Q3 GDP growth to 6.2%, the spurt in January IIP to 5%, and the decline in February CPI inflation to 3.61%. This positive macro backdrop can support the market in the short-term but cannot sustain a rally in the market. The trade war fears are looming large on global trade and global growth. The uncertainty surrounding the reciprocal tariffs kicking in from April 2nd will certainly weigh on markets. India dubbed the ‘tariff King’ and ‘tariff abuser’ is unlikely to be spared by Trump. This will keep the market jittery, particularly the export oriented sectors will be anxious about the tariff announcements. Domestic consumption themes unaffected by tariffs will be stable."
US equities recovered on Friday as investors sought value opportunities following a week marked by recession concerns and reduced risk appetite amid Trump's intensifying trade disputes.
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