Mumbai: Indian Equity Markets Open Strongly

On Monday, the Indian equity market opened on a strong note, with the benchmark Sensex crossing the 60,000 level and Nifty making significant gains. The BSE Sensex jumped 554.06 points or 0.91% to 60,363.03 points, while the broader NSE Nifty climbed 143.35 points or 0.81% to 17,737.70 points.

As many as 28 constituents of the 30-share Sensex, including HCL Tech, TCS, and Reliance, were trading in the positive territory, while only two were marginally lower. Most Asian markets, including Hong Kong and Japan, also rose on Monday, following strong gains in European and US markets on Friday.

Deepak Jasani, Head of Retail Research at HDFC securities, noted in a pre-open market note that Indian markets could open higher, in line with mostly higher Asian markets and higher US markets on Friday. "Asian markets opened higher on Monday after the US stocks ended last week on a positive note, driven by speculation that the US Federal Reserve won't raise interest rates beyond peak levels, as it is already priced in," he said.

On Friday, Sensex rallied nearly 900 points and Nifty jumped more than 272 points, mainly due to positive global cues and fresh fund inflows. Foreign Portfolio Investors (FPIs) were net buyers, with investments worth Rs 246.24 crore on Friday, according to data with the BSE.