Stock Market Today: Bulls roar at Dalal Street; Sensex above 84,000, Nifty tops 25,850

Stock Market Today: Indian equity benchmarks opened higher on Monday, tracking positive early sentiment at the start of the week.

The BSE Sensex jumped 495.24 points, or 0.59 per cent, to 84,075.64 at 9:16 am, compared with its previous close of 83,580.40. The index opened stronger at 84,177.51.

The Nifty 50 gained 195 points, or 0.76 per cent, to trade at 25,888.70. The benchmark opened at the same level, above its previous close of 25,693.70.

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Broader markets outperform

Broader markets outperformed the benchmarks in early trade. Midcap and smallcap indices gained over 1 per cent, indicating strong risk appetite.

On the NSE, the Nifty 100 was up 0.72 per cent. The Nifty Midcap 100 gained 0.66 per cent, while the Nifty Smallcap 100 surged 0.85 per cent.

Sectoral action

Sectoral indices opened firmly in the green. Nifty PSU Bank rallied more than 2 per cent. The Metal index jumped 1.5 per cent. IT rose 0.6 per cent, while Auto gained 0.56 per cent. FMCG stocks were relatively subdued.

Buying interest was seen in PSU banks, media, metal and realty stocks. FMCG stocks remained under pressure.

Top Sensex movers

Among Sensex stocks, SBI, Titan, and Tata Steel were among the top gainers in early trade. On the losing side, Power Grid, Bajaj Finance, and Hindustan Unilever traded lower.

Commodities trend

Precious metals extended their rally. Gold prices jumped 1.51 per cent to Rs 1,57,693 per 10 grams for 24-carat gold. Silver prices surged 5.35 per cent to Rs 2,63,258 per kg.

FIIs data

FIIs’ index futures long positions slipped from 18.67 per cent to 18.50 per cent.

FIIs paused buying in the cash market after two sessions, selling Rs 2,150 crore.

DIIs continued buying for the fourth straight day, with purchases worth Rs 1,129 crore.

Overall, FIIs recorded net selling of Rs 4,132 crore across cash, index futures and stock futures.

Global cues

Global markets supported sentiment after a rebound in US markets on Friday and strong Asian cues. In Japan, the government secured a landslide win in snap elections held on February 8, signalling public support for the Prime Minister’s pro fiscal stimulus and tax-cuts policy stance.