Indian Stocks Near September 2024 Highs, Market Surges Early Monday

Indian shares started the new week on a positive note as the global signals were closely watched by the investors, thus making the markets almost as high as the record highs of September 2024.

The Nifty 50 was at 25,948.20 when it opened for trading, which is an increase of 38.15 points or 0.15%, on the other hand, the BSE Sensex started at 84,724.14, which is a rise of 161.36 points or 0.19% at the opening bell.

The experts in the market see a positive trend in the early trading phase and are optimistic about the Nifty reclaiming its record highs after a series of close misses over the last weeks. Banking sector and market expert Ajay Bagga was quoted by ANI as saying that the trend is uplifting. He said, "The Nifty is very near to the levels of September 2024. The investors have tested this zone many times already and the forecast for this week is that there could be a breakout."

Bank Nifty, which set a daily record last week, is also likely to see an increase in its momentum. Bagga continued, "The growth of Bank Nifty will depend on the US economic data and Fed actions, which have global effects."

Global changes are having a major impact on the moods of the investors, particularly the fluctuating prices of cryptocurrencies. Bagga mentioned that while gold is a safe haven in a risk-off situation, Bitcoin has lost its 2025 gains despite the election of Donald Trump who is seen as pro-crypto. "With the return of risk appetite, we might witness a revival in the crypto market," he said.

The performance of the sectors on the NSE showed a widespread rise in prices. The Nifty 100 gained 0.18%, the Midcap 100 improved by 0.43%, and the Smallcap 100 increased their price by 0.31%, which indicates the vitality of all market segments. Most of the sectoral indices started the day on a high note, with the exception of Nifty IT, which suffered a minor loss of 0.04%. The sectors of PSU Banks and FMCG were at the forefront, while the Auto sector had a small gain of 0.07%.

Sunil Gurjar, a SEBI-registered analyst and the founder of Alphamojo Financial Services, emphasized the stability of Nifty 50. "After bouncing from 25,288, the Nifty 50 gained 417 points, thus pointing to a bullish trend," he said. He also mentioned the index is nearing crucial resistance at 26,250. "If it breaks through this resistance convincingly, the Nifty 50 could soar to its peak," he remarked.

This week investors are following US events very closely. The recent Fed statement has made it only 45% likely that there will be a rate cut in December, while AI technology very much is still the main factor that affects the market's mood. Furthermore, the 43-day US government shutdown that is still ongoing has created data holes, which has made the markets very careful.

US stocks wrapped up Friday's trading almost unchanged, while Asian stock markets started the week lower due to increased tensions between China and Japan. Gold had a short-lived increase in Asia but soon after gave up the gains it had during the US session.