NEW DELHI: The BSE Sensex climbed 281.21 points by midday on Monday, reaching 79,767.53 at 13:00, while the Nifty50 rose by 77.05 points to 24,225.25 at 13:00, reflecting a 0.32% gain. Despite a strong start, Nifty opened below the 24,100 mark, mirroring cautious sentiment amid mixed global cues and anticipation of key corporate earnings.
Top gainers included Tata Motors, Asian Paints, LIC, and Biocon, which attracted strong investor interest. Noteworthy earnings results are expected today from Oil and Natural Gas Corporation, Britannia Industries, Hindalco Industries, Shree Cement, and Bank of India, along with other companies like Bajaj Consumer Care, BEML, and Zydus Wellness. Analysts project varied sector performance, adding to the market’s guarded outlook.
Meanwhile, Gift Nifty hovered around 24,130, suggesting a possible muted opening for Indian indices. Last Friday, markets ended slightly lower, with Sensex dipping 55.47 points to close at 79,486.32 and Nifty50 down by 51.15 points, settling at 24,148.20.
Technical indicators point to continued market consolidation. “Nifty on the weekly chart formed a small negative candle with long upper and lower shadows, signaling a high wave pattern. The short-term trend remains choppy, with consolidation likely to persist with a weak bias,” remarked Deepak Jasani, Head of Retail Research at HDFC Securities.