Indian equity benchmarks commenced the week on a positive footing on Monday, lifted by a combination of foreign institutional investment and optimism linked to the ongoing visit of United States Vice President J D Vance to India.
Market watchers suggest the visit could catalyse progress on a bilateral trade agreement and pave the way for US President Donald Trump’s potential visit in the coming months, lending further momentum to investor confidence.
The Nifty 50 index opened at 23,949.15 — a gain of 97.50 points or 0.41 per cent — while the BSE Sensex rose 355 points or 0.45 per cent to reach 78,908.60 in early trade.
“The Asian cues are mixed on a day when some major markets remain shut for Easter. The visit of the US VP J D Vance will be the highlight of the week, with this being the first visit to India of a US VP in ten years. Symbolically, this is the first Asian nation visit by the VP in this administration. Expect positive announcements which will set the stage for the BTA and for a subsequent visit to India of President Trump,” banking and market expert, Ajay Bagga said.
Bagga further noted, “Indian markets have been on a tear, recovering the previous 9 days of falls in the last 6 days. We expect the positive bias to continue this week, with FPI net positive flows being a big positive.”
Sectoral indices showed broad-based strength, with all except Nifty IT opening in the green. Nifty Private Bank led the gains, advancing 1.2 per cent, followed by Nifty Pharma, which added 0.86 per cent — indicating robust investor appetite across sectors.
On the corporate front, investor attention is also drawn to a slate of quarterly earnings for the fourth quarter of FY25, scheduled for release today. Companies announcing results include Tata Investment Corporation, Himadri Speciality Chemical, Anant Raj, International Gemmological Institute India, Alok Industries, Shilchar Technologies, Pitti Engineering, and Mahindra Logistics.
Sunil Gurjar, SEBI-registered research analyst and founder of Alphamojo Financial Services, said, “Nifty is hovering towards the 23860 resistance level, which acts as a crucial resistance. A breakout above this resistance would indicate a continuation of the uptrend. Previously, Nifty made two failed attempts to breach this level. Technically, the price is trading above all key moving averages, further identifying more upward momentum. Volume signals buyer interest in the sector, potentially pushing the price to higher highs.”
Meanwhile, Asian markets presented a mixed picture. Japan’s Nikkei 225 shed over 1.2 per cent, while Taiwan’s weighted index slipped 1.34 per cent.
Conversely, Singapore’s Straits Times Index rose over 1 per cent and South Korea’s KOSPI was nearly flat, edging up by 0.03 per cent at the time of filing this report.
Also read: ICICI, HDFC report strong profit growth in Q1 of 2025
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