Sensex 78,502 as Nifty holds above 24,580 after Q1 earnings
Indian stock markets kicked off Monday on a calm note: the Sensex hovered around 78,502 and the Nifty edged up above 24,580.
Strong first-quarter earnings helped balance out worries over rising oil prices and global tensions.
Even though market volatility ticked up (India VIX jumped over 5%), upbeat corporate results and steady foreign investor interest kept the mood positive.
Bluechips rise, NTPC, Bharti Airtel slip
Titan, ICICI Bank, Trent, and HCL Tech saw modest gains of up to 2%, while NTPC and Bharti Airtel slipped about 1%.
PSU banks led sector gains with nearly a 1% rise.
Overall, more stocks were in the green than in the red on the NSE, so optimism is still hanging around.
Nifty expected between 24,400 and 24,775
Analysts think the market will stay resilient this quarter, thanks to strong demand at home and solid performance from banks and pharma companies.
For now, the Nifty is expected to move between 24,400 and 24,775 as everyone watches upcoming earnings reports and global news for what's next.