Nifty 50 Surges 1.7% at Open: Global Optimism and Ceasefire Hopes Fuel Market Rally

Image Source: The Economic Times

India’s benchmark Nifty 50 index roared back in early trade on Monday, jumping 1.72% and reclaiming the 24,400 mark after last week’s volatility. The surge comes as global markets rally on positive US-China trade developments and easing geopolitical tensions between India and Pakistan.

Key Highlights:

Strong Opening: Nifty 50 opened at 24,420, up 146 points from the previous close, marking a robust 1.7% gain and signaling renewed investor confidence after last week’s selloff.
Global Tailwinds: Asian equities and US futures rose sharply, buoyed by reports of “substantial progress” in US-China trade talks. This positive sentiment spilled over into Indian markets, helping offset recent jitters from regional tensions.
Geopolitical Relief: News of a ceasefire and halting of military action between India and Pakistan has eased market nerves, with defense and banking stocks leading the recovery.
Technical Outlook: Analysts note immediate resistance for Nifty at 24,250–24,300, with key support at 23,800–23,600. A decisive move above 24,250 could fuel further upside, while a breach below 23,800 may trigger renewed selling pressure.
FII/DII Flows: After a bout of foreign selling last week, domestic institutional investors stepped up buying, providing crucial support to the market.
Sector Watch: Defense, banking, and select FMCG stocks are in focus, while global cues and Q4 earnings will continue to drive near-term sentiment.

With volatility still elevated and technical levels in play, traders are watching for sustained momentum above resistance zones to confirm a new uptrend.

Sources: Moneycontrol, NDTV Profit, CNBC-TV18