New Delhi [India] May 26 (ANI): Indian stock market opened in the green as major indices Nifty and Sensex started the trading day with positive gains, showing an upbeat mood.
The Sensex opened 0.66 per cent or 537 points higher to 82,270, the Nifty gained 0.62 per cent or 154 points to 24,999. Powergrid, M&M, Tata Motors and NTPC are top early gainers among individual stocks.
Banking stocks too showed early gains with the Nifty BANK Index starting the day at 55,790, gaining over 0.7 per cent.
In the Sensex, the early gainers included Power Grid, NTPC, M&M, UltraTech Cement, ICICI Bank, and Tata Motors among other stocks.
Nifty was up about a per cent on Friday, putting to rest the short-term nervousness in the market.
Among sectoral gainers, Nifty metals was the top performer, followed by Pharma, Nifty Bank and Auto were up 0.7 per cent each. Nifty IT and FMCG gained 0.6 per cent each.
Asian stocks opened on Monday with some relief with consolidation seen in the morning trade. European indices futures and U.S. Equity index futures opened up as US President Donald Trump said he will postpone his recently proposed 50 per cent tariffs on the European Union to July 9th, giving some relief over his tariffs.
Banking and Market Expert, Ajay Bagga, says, “As expected, one more relief for the markets. After threatening EU with 50 per cent tariffs starting June 1, President Trump has postponed these to July 9th. EU has indicated that they are engaging with US trade officials to work out a deal.”
Bagga adds that it will be a big relief for the markets, “One more market panic and then a quick roll back.”
US markets are closed on Monday for the Memorial Day observance, which postpones the market worries on this front. Bagga says US tariff issues will continue for the next few weeks, and deals with EU, Japan, India, Vietnam, and South Korea are expected to lead this move.
“We still believe these kind of announcements will be the norm for the next 40 days and most countries will get a 10% universal tariff in the end,” said Ajay Bagga.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, “News of India becoming the fourth largest economy in the world would be a near-term morale boost for the market.”
In addition to its RBI’s bumper dividend of Rs 2.69 lakh crore will reduce the fiscal deficit
“RBI’s bumper dividend payment to the government exceeding the budget estimates will help contain the fiscal deficit target for FY26 at 4.4%. This, in turn, can sustain the low inflation and declining interest rate trend which will continue to support the equity market,” added Vijayakumar.
With over 200 companies set to announce their quarterly numbers this week, investors will be keeping an eye on earnings reports. Experts believe the spotlight will be on midcaps and sector-specific players. (ANI)
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