As the new trading week begins, the Indian stock market’s benchmark indices, Sensex and Nifty 50, are poised for a steady start amid a backdrop of varied global market trends.
Both Sensex and Nifty 50 are anticipated to open flat, reflecting mixed cues from global markets. The Gift Nifty, a gauge of Nifty futures, mirrored this sentiment, trading near the 24,135 level, aligning closely with the previous close of Nifty futures.
Friday saw domestic equity benchmarks experiencing a divergence in performance. The Sensex concluded the session with a decline of 210.45 points, settling at 79,032.73. Conversely, Nifty 50 managed a marginal gain of 33.90 points, or 0.14%, closing at 24,010.60. The day’s trading was marked by profit booking activities, especially at the backdrop of recent record highs achieved by the indices.
The outlook for Monday’s trading session hinges on global market movements, which have shown mixed signals recently. Investors are navigating uncertainties related to economic indicators, geopolitical developments, and central bank policies, which collectively shape market sentiment.
Analysts suggest monitoring key support and resistance levels for both Sensex and Nifty 50, considering recent price movements and trading patterns. Traders may adopt cautious approaches amid potential volatility, keeping an eye on sectoral performances and individual stock movements for trading opportunities.
As traders and investors brace for the week ahead, the Indian stock market remains in focus amidst evolving global dynamics. Market participants will closely monitor early trading trends and external influences to gauge sentiment and potential market direction.
The Indian stock market’s flat opening on Monday reflects a cautious stance amid mixed global cues, following Friday’s profit booking activities. Investors are advised to stay informed about ongoing market developments and adopt prudent strategies in response to evolving conditions.
