Indian equity indices opened Monday’s trading session on a muted note with a negative bias. The NSE Nifty 50 opened 37 points or 0.14% lower at 26,150. The BSE Sensex opened 67 points or 0.08% lower at 85,645.
The Bank Nifty opened 85 points or 0.14% lower at 59,693. Similarly, the small and mid-cap stocks opened flat. The Nifty Midcap opened 50 points or 0.09% lower at 60,299.
“As long as the market is trading above these levels, the bullish sentiment is likely to continue. On the higher side, 26,300 would serve as an immediate resistance level for the bulls. A successful breakout above 26,300 could push the market up to 26,500. Conversely, a breach below 25,900 could change the sentiment. Below this level, the index could retest the levels of 25,750-25,700,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
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 HDFC Life Insurance, Tech Mahindra, Zomato (Eternal), Wipro, and Hindalco Industries. On the flip side, the key laggards in the Nifty 50 pack included InterGlobe Aviation, Bajaj Finance, Bharat Electronics, Adani Enterprises, and Coal India.
Major movers on Monday
The stocks that were the major movers in the opening trade included Infosys, Reliance Industries, TCS, HDFC Life Insurance, and HCL Technologies, which were the major movers in the morning trade.