Sensex Opens 142 Points Higher, Nifty Above 24,500; BEL Leads Early Gains

Indian benchmark indices opened higher on Monday, snapping a five-session losing streak. The S&P BSE Sensex rose 114.15 points to 80,540.61, while the NSE Nifty50 gained 36.45 points to 24,691.15 as of 9:24 am.

Market Overview
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the market had been drifting lower for six consecutive sessions, with the Nifty dipping below 24,800, a key support level.

"Technically, the market remains weak, but oversold conditions suggest a short-term bounce is possible. Any sustained rally will depend on positive developments in the US trade deal," he said.

Top Gainers and Losers
Early trade saw Bharat Electronics Limited (BEL) rise 2.41%, followed by Eternal (1.87%), Tata Steel (1.16%), Titan (1.13%), and Mahindra & Mahindra (0.98%).

On the downside, Hindustan Unilever led losses with a 2.27% decline, while Asian Paints fell 0.33%, Bharti Airtel dropped 0.29%, Axis Bank lost 1.58%, and ITC declined 0.77%.

Sectoral Performance
Most sectors gained, with Nifty Realty up 1.03%, Nifty PSU Bank 0.96%, Nifty Metal 0.94%, and Nifty Oil & Gas 0.84%. Other sectors like Healthcare, IT, Media, Auto, Pharma, Financial Services, and Consumer Durables posted modest gains.

Selling pressure was limited to Nifty FMCG, down 0.74%, and Nifty Private Bank, down 0.09%.

Expert Insights
Vijayakumar highlighted the upcoming RBI monetary policy on October 1, stating that no rate cut is expected due to current growth-inflation dynamics. He added:

"Investors can gradually accumulate largecaps in automobiles, banking, telecom, capital goods, and cement. Weakness in pharmaceuticals offers a buying opportunity, as India’s generic exports remain unaffected by US tariffs on branded drugs."

Broader Market Trends

• Nifty Midcap100 gained 0.68%

• Nifty Smallcap100 rose 0.72%

• India VIX climbed 0.10%

The market’s short-term focus remains on global trade developments and domestic earnings for Q2, which could guide investor sentiment for the rest of the festive season.