Indian stock markets began the week on a positive note on Monday, buoyed by optimism ahead of major global events including the U.S. Federal Reserve’s policy decision, the meeting between U.S. President Donald Trump and Chinese President Xi Jinping, and quarterly results from the “Magnificent 7” technology giants.
The Nifty 50 opened at 25,843.20, up 48.05 points or 0.19 per cent, while the BSE Sensex started at 84,297.39, rising 85.51 points or 0.10 per cent. Analysts attributed the cautious optimism to the mix of global and domestic cues likely to influence investor sentiment this week.
Ajay Bagga, Banking and Market Expert, told ANI, “Indian markets are pointing to a positive open. FPI positioning moved to a lower net short position over the last week. However, with the Indian Commerce Minister hinting that India is not in a hurry to close a trade deal with the U.S., there was brief selling on the bourses. The good news is that the overall downward movement was quite moderate.”
He added that while markets may see a positive start, volatility could increase due to the monthly expiry of key index futures on Tuesday. “As markets position for major global events, we expect a positive open followed by a slight move downwards,” he said.
