Mumbai (Maharashtra) [India], October 12 (ANI): Indian equity benchmarks opened higher on Monday, with the Sensex rising 329.31 points, or 0.45 per cent, to 72,801.64 and the Nifty 50 gaining 113.30 points, or 0.50 per cent, to 22,633.75.
The Sensex opened at 72,771.32, up 298.99 points from Friday’s close of 72,472.33, while the Nifty 50 opened at 22,593.20, up 72.75 points from its previous close of 22,520.45.
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Easing crude oil prices supported investor sentiment, although persistent foreign investor selling and elevated global bond yields continued to pose risks.
At the time of reporting, Brent crude was trading at USD 103.12 a barrel, down 1.53 per cent.
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Market analyst Vipin Dixena said the market was at a crucial juncture following Friday’s recovery, with investors looking for further buying to sustain the rebound.
“In my view, the Indian market is at a crucial juncture.
After Friday’s 1.30% recovery in Nifty, investors are looking for follow-through buying, supported by easing crude prices and the RBI’s latest measures to stabilise the rupee,” he said.
However, Dixena cautioned that the broader market structure remained fragile and that one positive session was insufficient to confirm a trend reversal.
He identified persistent foreign institutional investor (FII) selling as the biggest concern.
Dr V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said external pressures continued to outweigh domestic positives.
“The market is going through a stage wherein external headwinds are dominating the domestic tailwinds.
Elevated crude prices and high US bond yields will continue to impact the market,” he said, adding that FIIs....
