Indian equity markets are poised for an active start to the week on Monday, June 9, following a strong rally in the previous session. The Sensex surged 746.95 points, or 0.92%, to close at 82,188.99 on Friday, buoyed by robust performances in the financial and auto sectors. Bajaj Finance led the gains with a 4.90% jump, followed by notable advances in Axis Bank, Maruti Suzuki, and IndusInd Bank.
The positive momentum came after the Reserve Bank of India surprised markets with a 50 basis point repo rate cut and a 100 basis point reduction in the cash reserve ratio. These policy moves triggered broad-based buying, with the Nifty 50 also closing above the 25,000 mark for the first time in several sessions. Market breadth was positive, with more than 2,100 stocks advancing, while the BSE Midcap and Smallcap indices climbed 0.9% and 0.4% respectively.
Sectorally, all indices except Media ended in the green. Realty stocks outperformed with over 4% gains, while Metal, Auto, and Consumer Durables sectors each rose more than 1%. However, a few stocks like HDFC Life and Bharti Airtel saw modest declines.
Looking ahead to Monday, technical analysts highlight a double bottom reversal pattern on the Sensex, suggesting potential for further upside if the index sustains above the 82,000 level. Key resistance is seen between 82,200 and 82,500, while support is expected in the 81,400–81,200 zone. For the Nifty, a sustained move above 25,000 could pave the way for a rally towards 25,350, with support pegged at 24,700–24,200.
Market participants will also keep an eye on global cues and inflation data, as volatility may remain elevated amid macroeconomic uncertainties. Overall, sentiment remains optimistic, but near-term pullbacks cannot be ruled out after the recent sharp gains.
