The Indian stock market started the new week with strength. Sensex opened 260 points higher, while Nifty was trading 80 points higher. Metal, IT and public sector bank indices witnessed good gains. All regional indices were trading with gains. Relief on the global front and strong domestic data boosted market sentiment. Goldman Sachs has raised its outlook for the Indian market to “overweight”. The brokerage has set a target of 29,000 for Nifty by the end of 2026. According to the brokerage, strong income growth, better domestic flows and a reform-driven economy will prove to be key strengths for India in the coming years.
Important triggers for the market today
Nifty at 29000 in 2026: Goldman Sachs
Lockdown in America may end soon
US markets closed at the highest level of the day on Friday
Gold and silver strengthened, crude oil price stable below $64
Results: Nykaa, Kalyan Strong, Bajaj Auto, Trent, Torrent PH mixed
The results of four futures stocks including Bajaj Fin and ONGC will be declared in Nifty.
Decision to export 15 lakh tonnes of sugar this year
lenskart ipo listing
Financial Institutional Investment Institutions (FIIs) and DII Institute of Technology (DIIs) made vigorous purchases
After six consecutive days of selling, foreign investors (FIIs) bought ₹4,600 crore in the cash market on Friday, while domestic institutional investors (DIIs) invested ₹6,675 crore for the 50th consecutive day. However, this figure also includes Bharti Airtel’s ₹10,350 crore block deal.
Relief recovery in American markets
The longest shutdown in US history, which had been going on for 40 days, is now expected to end. This could help Democrats pass a funding bill in the Senate. Due to this hope, there was a strong recovery in the American markets on Friday. The Dow Jones Industrial Average closed up 75 points after a 500-point recovery, and the Nasdaq closed down only 50 points with a 450-point recovery. Its effect is also visible on Asian markets. GIFT Nifty is stable around 25,575, while Dow futures are seen gaining 100 points.
Relief news from China: China has postponed the ban on export of rare minerals to America for one year. This will provide a lot of relief to American chip and defense companies.
Commodity Update
Gold rose by ₹350 to close above ₹1,21,000, and silver rose by ₹500 to close at ₹1,47,800. In the international market, gold rose by $25 to $4,025, while silver rose by about 1%. Crude oil closed sluggishly below $64.
company results
Bajaj Auto, Trent, Nykaa and Torrent Pharma had mixed results. Kalyan Jewelers and Nalco reported strong results, while Petronet LNG reported weak results. The quarterly results of Bajaj Finance and ONGC will be released today. Vodafone Idea, KPIT Tech, HUDCO and Solar Industries will also be closely watched in the F&O markets.
IPO action
Lenskart’s IPO was oversubscribed 28 times. It will be listed today at an issue price of ₹402. Pine Labs’ IPO received only 13% subscription on the first day. Its price band has been fixed at ₹210-₹221.
Other important news:
The Food Minister made a big statement on sugar exports saying that 15 lakh tonnes of sugar will be exported this season and 50% duty on molasses has been waived. Meanwhile, SEBI has issued a strict warning against investing in digital gold products available to jewelers and online platforms. SEBI has advised investors to invest only in SEBI-regulated gold products to avoid frauds.