Bulls returned on Dalal Street on Monday as Sensex and Nifty rallied, starting the week on a positive note. Dalal Street gained nearly 1% in early trade, supported by strong global cues and gains across sectors.
The S&P BSE Sensex was up 630.25 points to 83,444.96, while the NSE Nifty50 gained 190.55 points to 25,761.80 as of 9:39 am.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that India has already delayed the visit of its trade negotiating team to the US in the light of the changed scenario. This is welcome move.
“From the market perspective the US SC decision is indeed a positive, but this is not sufficient to trigger a sustained rally in the market. The market will see only a relief rally which is unlikely to sustain. The market will respond only to the fundamentals, which are fortunately improving,” he added.
GLOBAL CUES LIFT SENTIMENT
Markets opened higher after the US Supreme Court struck down tariffs imposed by US President Donald Trump under a national emergency law. The ruling has raised hopes of some relief in global trade.
On Saturday, Trump said he would raise the temporary tariff on US imports from 10% to 15%, which is the maximum allowed under the law. This has created some uncertainty, but investors are watching trade talks closely.
India has delayed sending a trade delegation to Washington this week, according to a Reuters report quoting a trade ministry source. The Indian team was set to leave on Sunday to finalise an interim trade deal.
Under the proposed framework, US tariffs on Indian goods would be reduced to 18%, while India would buy $500 billion worth of US goods over five years.
Gift Nifty futures were trading at 25,744.5 at 7:51 am IST, suggesting that the Nifty 50 would open above Friday’s close of 25,571.25.
Other Asian markets were also trading higher, rising about 1.1%. Oil prices eased ahead of fresh talks between the US and Iran in Geneva on Thursday.
STRONG BROAD-BASED BUYING
Gains were seen across most sectors in early trade.
Among sectoral indices on the NSE, Nifty PSU Bank rose the most, up 1.34% at 9,795.50. Nifty Financial Services 25/50 gained 0.95% at 30,887.55. Nifty Realty climbed 0.85% to 827.70.
Nifty Auto was up 0.91% at 28,099.35, while Nifty Metal added 0.74% to 12,078.35. Nifty Private Bank rose 0.68% to 29,104.65.
Nifty FMCG traded 0.53% higher at 52,047.80. Nifty Media gained 0.47% to 1,433.55. Nifty Healthcare Index was up 0.40% at 14,619.25.
Nifty Pharma rose 0.35% to 22,531.20. Nifty Consumer Durables gained 0.36% to 37,723.85. Nifty Oil & Gas added 0.25% to 12,121.95.
Nifty IT was almost flat but positive, up 0.01% at 32,008.50.
SENSEX TOP GAINERS AND LOSERS
Most Sensex stocks were trading in the green in early deals.
Axis Bank rose 2.06% to Rs 1,396.40. Adani Ports gained 1.75% to Rs 1,537.85. HDFC Bank added 1.26% to Rs 923.40, while Kotak Bank was up 1.09% at Rs 425.95.
Reliance Industries climbed 0.96% to Rs 1,433.70 and Hindustan Unilever rose 0.90% to Rs 2,335.85.
SBI gained 0.88% to Rs 1,226.90. Eternal was up 0.84% at Rs 271.20. Power Grid rose 0.79% to Rs 301.25. ICICI Bank added 0.76% to Rs 1,404.20. Bajaj Finance was up 0.72% at Rs 1,036.60, while Bharti Airtel gained 0.71% to Rs 1,991.70.
M&M rose 0.67% to Rs 3,435.90. BEL added 0.59% to Rs 443.75. Maruti gained 0.58% to Rs 15,074.00. Trent was up 0.52% at Rs 4,110.10. TCS also rose 0.52% to Rs 2,700.50. UltraTech Cement added 0.40% to Rs 12,815.25.
Titan gained 0.40% to Rs 4,252.55. Tech Mahindra rose 0.31% to Rs 1,461.70. IndusInd Bank added 0.21% to Rs 4,863.90. HCLTech was up 0.15% at Rs 1,439.20. Asian Paints gained 0.11% to Rs 2,431.00. Tata Steel edged up 0.07% to Rs 208.40. Sun Pharma was also up 0.07% at Rs 1,725.65. LT added 0.06% to Rs 4,383.00. ITC rose 0.02% to Rs 327.05.
On the losing side, NTPC slipped 0.07% to Rs 372.80. Bajaj Finserv was down 0.08% at Rs 2,056.35. Infosys fell 0.28% to Rs 1,349.00.
WHAT IS DRIVING THE MARKET TODAY
The main reason for today’s rise is positive global sentiment after the US court ruling on tariffs. Investors are also tracking possible changes in trade terms between India and the US.
Last week, the Nifty and Sensex had logged modest gains. Banks supported the market on hopes of better earnings, while concerns around AI disruption and US-Iran tensions limited the upside.
For now, export-linked sectors may see buying interest as trade developments remain in focus. Markets will also watch global events and further updates on tariffs and trade talks in the coming days.
