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Markets are drawing optimism from the landslide victory of the Bharatiya Janata Party (BJP)-led coalition in the Maharashtra Assembly elections
Sensex Rises In Early Trade
Indian benchmark equity indices, BSE Sensex and Nifty 50, surged at the opening bell on Monday, driven by positive domestic cues and a slowdown in foreign investor selling.
At the start of the session, the BSE Sensex stood at 80,344.78, gaining 1,227 points, or 1.55 per cent, while the Nifty 50 reached 24,277, up by 370 points, or 1.55 per cent.
Markets are drawing optimism from the landslide victory of the Bharatiya Janata Party (BJP)-led coalition in the Maharashtra Assembly elections, along with the positive momentum in global markets, extending the gains from the last trading session of the previous week.
However, global geopolitical uncertainties and ongoing selling by foreign investors continue to impact investor sentiment.
Global Cues
Meanwhile, markets in the Asia-Pacific region mostly rose on Monday morning.
Australia’s S&P/ASX 200 rose 0.7 per cent to 8,452.7, while Japan’s Nikkei 225 was 1.61 per cent up, and the broad-based Topix was ahead by 1.07 per cent.
South Korea’s Kospi gained 1.45 per cent, and the small-cap Kosdaq saw a larger rise of 2.36 per cent.
Hong Kong’s Hang Seng index rose 0.31 per cent, while mainland China’s CSI 300 was flat with a negative bias. The Shanghai Composite was 0.21 per cent higher.
That apart, global stocks registered a strong weekly gain on Friday while US Treasury yields slipped as markets eyed President-elect Donald Trump’s likely policies and their impact on the US economy, even as bitcoin traded near the $100,000 threshold.
Traders are bracing for Trump’s agenda after he takes office in January, which is expected to include tariffs, tax cuts and deregulation. Trump has been nominating senior officials in his administration, and markets are awaiting his pick for Treasury secretary.
All three Wall Street indices finished higher and each notched a weekly gain. The Dow Jones Industrial Average rose 0.97 per cent to 44,296.51, the S&P 500 rose 0.35 per cent to 5,969.34 and the Nasdaq Composite rose 0.16 per cent to 19,003.65.
Europe’s Stoxx 600 share index ended the week 1 per cent higher, snapping four straight weeks of losses. MSCI’s gauge of stocks across the globe rose 0.33 per cent to 854.22 and gained about 1.4 per cent for the week.
