The Indian stock market kicked off the trading session with a promising gap-up opening today, signaling a rise in sentiment following the closure in observance of Ram Navami yesterday.
The BSE and Nifty commenced the day with notable gains. At the opening bell, the BSE Sensex stood at 73,183 levels, marking a significant uptick of 239.42 points.
Similarly, the NSE Nifty opened at 22,212 levels, registering an increase of 64.45 points.
The positive momentum continued as the indices surged further into the session. The Sensex index climbed by 291.27 points, opening at 73,234.95, while the Nifty recorded a gain of 102.75 points, opening at 22,250.65.
Among the constituents of the Nifty, 40 companies witnessed advances, demonstrating a broad-based rally, while 10 experienced declines. Noteworthy gainers in the morning session included BPCL, Power Grid, HDFC Life, Hero MotoCorp, and Adani. Conversely, HCL Tech, NTPC, Nestle India, Apollo Hospital, and Axis Bank were among the top losers.
Technical analysis suggests a weakened trend as the index breached the 21-day Exponential Moving Average (EMA).
Option Interest (OI) data revealed significant concentrations at 22,400 and 22,500 strike prices on the call side, and at 22,000 on the put side, indicating key levels to watch throughout the trading session.
Meanwhile, across Asian markets, equities displayed mixed performance, with Japanese stocks declining, while Australian and South Korean equities surged.
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