Indian stock markets jumped on Monday, following a broader rally across Asia and a bounce in the rupee.
The NSE Nifty climbed 206 points (0.8%) to close at 26,172, while the BSE Sensex added 638 points (0.75%) to finish at 85,567. Across the region, Japan rose 1.8% despite a higher yen, China gained 0.7%, Hong Kong 0.4%, South Korea 2.1% and Taiwan 1.6%.
Analysts call the recent uptick a “Santa rally,” a pattern where stocks tend to rise in the weeks leading up to Christmas and the New Year. Mid‑cap and small‑cap shares usually outperform during this period, and they were up 0.8% and 1% respectively.
Information‑technology shares were the biggest winners, with the Nifty IT index up more than 2%. Major companies such as Infosys, TCS, HCL Tech, Tech Mahindra and Wipro saw strong buying.
Technical analysts see solid support for the Nifty around the 25,700 level, near its 50‑day moving average. They suggest a “buy on dips” approach and expect the index to test the 26,700 zone in January.
The combination of a festive rally, a firmer rupee and fresh foreign buying gave Indian equities a solid boost. Retail investors may find opportunities, especially in IT and smaller‑cap stocks, but should stay mindful of market risks.
Remember, this is just perspective, not a prediction. Do your own research before making any investment decisions.
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