Indian stock markets opened higher on Monday, mainly due to a boost from banking stocks. Positive global factors and reduced geopolitical tension helped lift investor confidence, even though foreign investors continued selling.
The BSE Sensex started at 79,653.67, up from its last close of 79,402.29, and the NSE Nifty opened at 24,251.10, above Friday’s close of 24,180.80.
Dr. V K Vijayakumar from Geojit Financial Services noted that as markets corrected recently, investors moved towards more stable, high-quality stocks. During this correction, the Nifty index dropped 8.3% from its peak, while mid and small-cap indices fell by about 9.8% and 9.3%, respectively.
Banking stocks gained the most after strong earnings reports from major private banks. Shriram Finance rose 5.86%, ICICI Bank went up 2.77%, and SBI increased by 1.86%. Other top performers included BPCL (up 1.57%) and Hindalco (up 1.32%). On the other hand, Coal India saw the biggest loss, dropping 3.88%, followed by ONGC at 2.54%. Other major losers included L&T (-1.02%), ITC (-0.93%), and Bharti Airtel (-0.91%).
Global markets showed positive signs as Israeli airstrikes avoided critical oil facilities, causing crude prices to drop sharply. Brent crude fell to $72.21 per barrel, which may benefit companies that rely on lower oil prices.
Foreign institutional investors (FIIs) continued to sell, unloading shares worth ₹3,036 crore on October 25. Meanwhile, domestic institutional investors bought shares worth ₹4,159 crore.
Market volatility remained high, with the India VIX index rising to 14.63, up 4.74% from the previous session. Technical analysts noted that if volatility goes beyond 15.7, it may indicate more market caution.
Investors are also watching out for quarterly results from major companies like Bharti Airtel, Sun Pharma, Adani Power, IOC, and Ambuja Cements, along with key U.S. economic data and earnings from tech giants like Apple, Microsoft, Alphabet, Amazon, and Meta.
Analysts suggest that Nifty’s support level is around 24,000, with resistance around 24,500–24,600. If the market holds steady above these support levels, a bounce-back towards 24,500 and 80,300 on the Sensex could be possible.
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