Indian benchmark indices opened in positive territory, taking cues from the rally in global markets. The NIFTY50 index opened 100 points higher at 23,745, and the SENSEX soared over 420 points at the opening on Monday morning.
The positive start for the day was led by buying in the index heavyweight stocks like HDFC Bank (+0.7%), Infosys (+2.6%), and TCS (+1.7%)
NIFTY50 opened over 100 points up at 23,654, with index breadth in favour of advances as 35 stocks out of the 50 and 15 stocks traded in red. Among the gainers and losers, Indigo (+3.9%), Asian Paints (+3.7%), Infosys (+2.6%), Tech Mahindra (+1.9%) and TCS (+1.6%) were the top five gainers. Meanwhile, M&M(-1.3%), Hindustan Unilever (-1.3%), NTPC (-1.09%) and Power Grid (-1%) were the top four losers.
All eyes will be on the Reserve Bank of India’s monetary policy committee (MPC) meeting to be held from June 3, and the outcome will be on June 05. There are expectations that the RBI may leave the key policy rate unchanged at 5.25 per cent and adopt a cautious stance that factors in the possible headwinds to inflation.
Investors will also focus on the outcome of the four-day talks between India and US on the interim trade pact. The commerce ministry has said that the chief negotiators of the US and India will begin four-day talks here on June 1, 2026, on finalising the details of the interim trade pact, whose framework was agreed upon in February.
On the global front, the US markets ended higher on Friday, amid optimism over a potential U.S.-Iran deal, following reports that the United States and Iran are nearing the signing of a Memorandum of Understanding (MoU). Asian markets are trading mostly in green on Monday, tracking cues from Wall Street overnight.
Indian equity benchmarks came under heavy selling pressure on Friday, amid reports of a below-normal monsoon season rainfall and geopolitical uncertainty related to the US-Iran ceasefire arrangement. Sustained FII selling also weighed on sentiments. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,042.70 crore on Wednesday, according to exchange data. Finally, the SENSEX fell 1092.06 points or 1.44% to 74,775.74 and the NIFTY50 was down by 359.40 points or 1.50% to 23,547.75.