Indian equity indices are trading Monday’s session on a higher note as investor sentiments are boosted by the US-China deal. The NSE Nifty 50 rises 200 points or 0.77% to trade at 26,000. The BSE Sensex is trading 680 points or 0.82% higher at 84,900.
The Bank Nifty opened 131 points or 0.23% higher at 57,830. Similarly, the small and midcap stocks opened the day on a stronger note. The Nifty Midcap surged 213 points or 0.36% to open at 59,444.
“Technically, the Nifty index has witnessed some sort of profit-taking from its 52-week highs in a holiday-shortened week. Going ahead, we reiterate our bullish view with a buy on dip trading approach on the Nifty index till it is holding above 25,600 levels on a closing basis and expect it to test 26,300 levels in the near term,” said Vipin Kumar, Assistant Vice President of Technical and Derivatives Research at Globe Capital.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were SBI Life Insurance, Tata Consumer Products, Tata Steel, Shriram Finance, and Reliance Industries. On the flip side, the key laggards in the Nifty 50 pack included Kotak Mahindra Bank, Dr Reddy’s Lab, Adani Ports, Bharat Electronics, and Bajaj Finance.
Major movers on Monday
The stocks that were the major movers in the opening trade included HDFC Bank, Reliance Industries, Bharti Airtel, SBI, and Larsen & Toubro, which were the major movers in the morning trade.