Mumbai, April 27: The Indian stock market opened on a positive note on Monday, buoyed by strong global signals. At 9:19 AM, the Sensex rose by 363 points or 0.47%, reaching 77,027, while the Nifty gained 106 points or 0.45%, standing at 24,004.
In the early trading session, the market’s upward momentum was led by the pharma and healthcare sectors. The Nifty Realty and Nifty Pharma indices emerged as the top gainers. Almost all indices, including Nifty Healthcare, Nifty Metal, Nifty IT, Nifty India Defense, and Nifty Commodities, were in the green.
Both large-cap and mid-cap stocks showed significant gains. The Nifty Midcap 100 index surged by 794 points or 1.34%, reaching 60,169, while the Nifty Smallcap 100 index climbed by 240 points or 1.37%, standing at 17,807.
Among the gainers in the Sensex pack were Sun Pharma, Adani Ports, Tata Steel, Infosys, Kotak Mahindra Bank, M&M, L&T, Tech Mahindra, NTPC, ITC, Asian Paints, Eternal, Maruti Suzuki, Titan, SBI, Trent, Power Grid, Bajaj Finserv, Bharti Airtel, and InterGlobe Aviation (IndiGo). Conversely, Axis Bank, BEL, and Bajaj Finance were among the losers.
Most Asian markets opened higher, with Tokyo, Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta all in the green. The US markets had a mixed close on Friday, with the Dow down by 0.16% and the Nasdaq up by 1.63%.
One reason for the positive trend in global markets, including India, is a new peace proposal from Iran to the United States. Reports suggest that the aim is to reopen the Strait of Hormuz and end the conflict. However, diplomatic efforts between the two countries have stalled following the cancellation of proposed talks in Islamabad last week.
Foreign institutional investors (FIIs) continued to be net sellers, offloading equities worth ₹8,827.87 crore on Friday. In contrast, domestic institutional investors (DIIs) invested ₹4,700.71 crore in equities.
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