The Indian stock market kicked off the week on a strong note, riding the wave of upbeat global cues. However, early trade showed some turbulence in key sectors like IT, PSU banking, and financial services.
Let’s take a closer look at the numbers and market dynamics shaping Monday morning’s trading session.
Market Snapshot as of 9:29 AM
| Index | Value | Change | % Change |
|---|---|---|---|
| Sensex | 78,949.26 | +396.06 | +0.50% |
| Nifty 50 | 23,949.85 | +98.20 | +0.41% |
| Nifty Bank | 55,152.45 | +862.25 | +1.59% |
| Nifty Midcap 100 | 52,891.30 | +233.50 | +0.44% |
| Nifty Smallcap 100 | 16,460.35 | +50.15 | +0.31% |
What’s Driving the Sentiment?
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Strong global cues: Markets responded positively to stable international conditions and expectations of a favorable US-India trade outcome.
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Private bank performance: Big private banks posted results aligned with market forecasts, pushing indices higher.
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Tech stock weakness: Despite gains, IT stocks like Tech Mahindra and Infosys remained under early selling pressure.
Key Technical Levels to Watch
For Nifty 50
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Support levels: 23,700 → 22,600 → 22,500
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Resistance levels: 24,000 → 24,200 → 24,500
For Bank Nifty
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Support levels: 54,000 → 53,700 → 53,500
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Resistance levels: 54,500 → 54,700 → 55,000
Expert Take:
“Bank Nifty has room for growth but traders should monitor 54,500 as a near-term resistance. A move above could see it test 55,000 soon,” says Mandar Bhojane, Choice Broking.
Sector and Stock Highlights
Top Gainers in Sensex
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Tech Mahindra
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Infosys
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HCL Technologies
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HDFC Bank
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Axis Bank
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ICICI Bank
Top Losers in Sensex
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Asian Paints
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Hindustan Unilever Limited
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Titan
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Sun Pharma
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UltraTech Cement
Global Market Overview
U.S. Market Recap (Last Thursday)
| Index | Close | % Change |
|---|---|---|
| Dow Jones | 39,142.23 | -1.33% |
| S&P 500 | 5,282.70 | +0.13% |
| Nasdaq | 16,286.45 | -0.13% |
Asian Markets (Today)
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In Green: China, Bangkok
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In Red: Jakarta, Japan, Seoul
Institutional Activity
| Category | Activity on April 17 |
|---|---|
| Foreign Institutional Investors (FIIs) | Bought ₹4,667.94 crore |
| Domestic Institutional Investors (DIIs) | Sold ₹2,006.15 crore |
FIIs extended their buying streak for the third day, showing consistent foreign confidence, while DIIs continued to offload positions.
Market Themes to Watch This Week
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US-India Trade Talks: VP JD Vance’s India visit stirs optimism about tariff negotiations and reduced levies.
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Earnings Season: All eyes are on Q1 earnings and management commentary about supply chain trends and tariff adjustments.
“This earnings season isn’t just about numbers. It’s about how businesses are adapting to the shifting global trade rules,” says Devarsh Vakil of HDFC Securities.
Frequently Asked Questions
1. Why did the Indian markets open higher today?
The Indian markets opened higher mainly due to positive global cues and strong quarterly results from large private banks.
2. Which sectors faced selling pressure in early trade?
Sectors like IT, PSU banks, and financial services saw some selling pressure during the initial hours.
3. What is the outlook for Bank Nifty?
Bank Nifty shows strong support around 54,000. If it crosses 54,500, we may see it test 55,000 in the near term.
4. How are foreign investors participating in the market?
FIIs are showing increased interest, having purchased over ₹4,667 crore worth of equities on April 17.
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