Indian stock markets start the week strong with Nifty up 102 points and Sensex surging 545 points

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Indian stock markets kicked off the week with impressive gains, as both the Nifty and Sensex indices surged on Monday. The Nifty 50 index opened at 24,956.15 points, marking an increase of 0.41 per cent or 102.10 points, while the BSE Sensex experienced a substantial rise of 545 points, or 0.67 per cent, reaching 81,770.02 points, ANI reported.

Market analysts noted that the focus for the week ahead will centre on the announcement of quarterly financial results and the ongoing activities of foreign investors. Ajay Bagga, a banking and market expert, highlighted that the current earnings season has not quite met expectations, particularly with the continued outflows of foreign institutional investors (FIIs) from secondary markets. He pointed out that despite these challenges, the Indian market has shown remarkable resilience, absorbing nearly Rs 4 lakh crore through promoter selling, initial public offerings (IPOs), and other financial offerings.

Bagga commented, "The Indian markets remain delicately poised. The booming primary market stands out as an exception to the outflows from the secondary markets. The recently concluded and upcoming big-ticket IPOs will provide some clarity on the euphoria surrounding listing gains in the primary market."

In sectoral performance on the National Stock Exchange, most indices recorded gains, with Nifty IT leading the charge, rising by 0.76 per cent at the opening. However, Nifty FMCG was the only sector to decline, dropping slightly by 0.19 per cent. Among the top gainers were prominent companies like HDFC Bank, Tech Mahindra, HDFC Life, and Eicher Motors. In contrast, Tata Consumer, Kotak Bank, and Bharti Airtel emerged as the top losers during the early trading session.

This Monday also sees the announcement of quarterly financial results for several significant companies, including Bajaj Housing Finance, Union Bank of India, Mahindra Logistics, and HFCL. Investors will be keen to see how these results reflect the overall market sentiment.

In other Asian markets, the trend was mixed, with Japan's Nikkei gaining 0.33 per cent, while Hong Kong's Hang Seng index fell by 0.31 per cent. South Korea's KOSPI rose by 0.82 per cent, and Taiwan's markets were also up at the time of this report, as per ANI.

(With inputs from ANI)