The Indian stock market started the week on a strong note, with benchmark indices opening higher on Monday. The positive momentum was driven by gains in the pharma and auto sectors, supported by favorable global trends.
At 9:32 AM, the BSE Sensex surged 504.88 points (0.68%) to reach 74,333.79, while the NSE Nifty climbed 164.00 points (0.73%) to 22,561.20.
Market Outlook and Key Levels
Market analysts observed that Sensex faced resistance near 74,550 and experienced some profit booking. However, experts believe that sustaining the 73,600 support level is crucial for the market’s near-term stability.
“A decisive move above 75,000 is needed for further upside movement in the coming days. The immediate support level for Nifty is at 22,300, while resistance is seen at 22,600,” said Vaishali Parekh, Vice President – Technical Research, PL Capital Group.
Sectoral and Broader Market Performance
- Nifty Bank rose 259.95 points (0.54%) to 48,320.35.
- Nifty Midcap 100 gained 183.30 points (0.38%), reaching 48,308.40.
- Nifty Smallcap 100 climbed 62.15 points (0.42%) to 14,959.50.
Experts noted that the market’s near-term trend remains stable with a positive bias, supported by factors such as reduced foreign investor outflows and India’s recent outperformance compared to the US markets.
Economic Indicators Supporting Market Sentiment
The recent bounce back in GDP growth (6.2% in Q3 FY25), an increase in industrial production (5% in January), and a decline in consumer inflation (3.61% in February) are providing fundamental support to the stock market.
Top Gainers and Losers
Among Sensex stocks, the top gainers included IndusInd Bank, Bajaj Finserv, Tata Motors, UltraTech Cement, L&T, Axis Bank, and ICICI Bank.
On the other hand, Infosys, Zomato, HCL Tech, Nestlé India, and Kotak Mahindra Bank were the top losers.
Global Market Performance
In the previous trading session, major US indices ended with significant gains:
- Dow Jones surged 1.65% to 41,488.19.
- S&P 500 added 2.13% to 5,638.94.
- Nasdaq jumped 2.61% to 17,754.09.
Asian markets showed mixed trends:
- Japan, South Korea, China, and Hong Kong were in the green.
- Bangkok and Jakarta traded in the red.
Institutional Activity
On March 13, Foreign Institutional Investors (FIIs) sold equities worth ₹792.90 crore, while Domestic Institutional Investors (DIIs) continued their buying spree, reflecting contrasting investment approaches.
The Indian stock market remains poised for further movement depending on global trends, economic data, and investor sentiment in the coming days.
