Mumbai (Maharashtra) [India]: Indian stock markets opened on a positive note on Monday as investors anticipated the swearing-in ceremony of US President Donald Trump.
The Nifty 50 index opened at 23,290.40 points, gaining 87.20 points or 0.38%, while the BSE Sensex rose by 359.20 points or 0.47% to open at 76,978.53.
Market experts highlighted the importance of Trump’s inaugural address and his first executive orders. “Trump 2.0 Swearing in is slated for today. Markets will watch the swearing-in speech and then the first executive orders from Trump. Donald Trump is expected to sign around 100 executive orders in the first few days of his new term,” said Ajay Bagga, a banking and market expert.
He added that Asian markets were buoyed by hopes of a US-China trade deal and the implementation of the Israel-Hamas ceasefire. “Markets will watch Trump’s actions now as the Trump President Trade starts today,” Bagga stated.
At the time of reporting, sectoral indices showed mixed trends. Nifty Auto, FMCG, and Metal faced declines, while other sectors gained traction. Nifty Private Bank surged by nearly 1%.
In the Nifty 50, top gainers included Wipro and Kotak Bank, each rising over 6%. Meanwhile, Shriram Finance, SBI Life, and IndusInd Bank were among the top losers.
Akshay Chinchalkar, Head of Research at Axis Securities, emphasized the critical nature of this week for market trends. “The 23,396 – 23,471 area will be the first hurdle to any rally attempt, while support remains anchored in the 23,048 to 23,106 zone. This week represents an important time window for bulls and bears alike, setting the tone for Nifty’s tactical trend,” he explained.
Today’s key quarterly earnings reports include Zomato, Indian Railway Finance Corporation, Dixon Technologies, Indian Overseas Bank, IDBI Bank, Oberoi Realty, Paytm, Supreme Industries, Central Bank of India, APL Apollo Tubes, and L&T Finance.
In other Asian markets, sentiment remained optimistic. Japan’s Nikkei 225 gained 1.03%, while Hong Kong’s Hang Seng rose by over 2%.