The Indian equity markets started the week on a high note, benefiting from positive global cues and investor optimism following the US Supreme Court’s ruling against President Donald Trump’s tariffs. The Sensex rose by 563 points to 83,375, while the Nifty climbed 170 points to 25,741 as of 9.25 am.
Major indices like Nifty Midcap 100 and Nifty Smallcap 100 also saw gains, with the former rising by 0.12% and the latter by 0.86%. Most sectoral indices traded positively, except Nifty IT and chemical sectors which experienced slight declines.
Market analysts viewed the decision of India’s trade negotiating team to postpone their US visit in light of the recent developments as a positive move. However, they cautioned that this alone might not be adequate to sustain a market rally.
The technical outlook for Nifty indicates a stabilizing trend and a gradual recovery in market sentiment. The Bank Nifty also showed strength in the last trading session, with immediate support levels at 60,800–60,900 and resistance at 61,300–61,400.
In the Asian markets, Japan’s Nikkei declined by 1.12%, while Hong Kong’s Hang Seng Index rose by 2.22%. South Korea’s Kospi also recorded a gain of 0.36%. Meanwhile, the US markets closed mostly lower, with Nasdaq down by 0.16%, S&P 500 trading flat, and Dow Jones losing 0.13%.
Foreign institutional investors (FIIs) were net sellers of equities worth Rs 935 crore on February 20, whereas domestic institutional investors (DIIs) bought equities worth Rs 2,637 crore.
