Following a remarkable surge last week, India’s benchmark equity indices, the Sensex and Nifty, opened Monday’s trading session with modest gains. However, this initial momentum quickly gave way to significant volatility, leaving both indices trading largely flat as investors engaged in profit-taking. The market’s cautious mood was largely influenced by the impending outcome of this week’s crucial U.S. Federal Reserve policy meeting, which global investors are closely watching for cues on future economic direction.
In early Mumbai trade, the 30-share BSE Sensex saw a modest increase of 93.81 points, reaching 81,998.51. Similarly, the 50-share NSE Nifty moved up by 24.45 points to touch 25,138.45. Yet, as the day progressed, the market softened, with the BSE benchmark eventually quoting marginally lower at 81,904.31 (down 10.06 points) and the Nifty at 25,099.90 (down 12.65 points).
Among the top performers on the Sensex were companies like Bajaj Finance, Eternal, Tata Motors, Adani Ports, Power Grid, and the State Bank of India, which registered notable gains. Conversely, Infosys, Sun Pharma, Tata Consultancy Services, and Tech Mahindra were among the day’s underperformers.
Broader Asian markets presented a more positive picture, with South Korea’s Kospi, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng all trading in positive territory. This followed a mixed closing for U.S. markets on the preceding Friday.
Reflecting on the previous week’s performance, Friday witnessed a strong finish for Indian equities. The Sensex surged by 355.97 points (0.44%) to close at 81,904.70, marking its fifth consecutive day of gains. The Nifty also extended its impressive rally to eight straight days, climbing 108.50 points (0.43%) to reach 25,114.
Overall, last week proved to be highly beneficial for investors, with the BSE benchmark advancing by a significant 1,193.94 points (1.47%) and the Nifty gaining 373 points (1.50%). Over the course of eight trading days, the Nifty has accumulated a remarkable 534.4 points, representing a 2.17% increase.
In the commodities market, global oil prices saw a slight uptick, with the Brent crude benchmark climbing 0.60% to settle at $67.39 per barrel. Meanwhile, foreign institutional investors (FIIs) demonstrated continued confidence in the Indian market, purchasing equities worth ₹129.58 crore on Friday, according to available exchange data.