Indian benchmark indices, the BSE Sensex and Nifty 50, began Monday’s trading session on a positive note, driven by favorable global cues. The Sensex rose by 526.78 points, or 0.67%, to 78,568.37 at the opening bell, while the Nifty 50 climbed 146.50 points, or 0.62%, to 23,734. The rally was largely influenced by easing inflation concerns in the US, which alleviated fears of aggressive interest rate hikes by the Federal Reserve. This positive sentiment was reflected in global markets, especially after Wall Street posted gains on Friday, with Indian markets mirroring the optimism.
However, despite the strong start, the Nifty 50 Index faces some hurdles. It closed below its 200-day moving average (DMA) for the first time in a month on Friday, finishing at 23,587.50. This represents a sharp decline of 5.3%, or 1,254 points, from its recent high of 24,792 in just five trading sessions, highlighting ongoing volatility. Market participants will be closely watching how these global cues continue to influence domestic market movements.
