New Delhi, May 25 (H.S.): Supported by positive global cues, the domestic stock market witnessed a strong upward trend during early trading on Monday. Optimism surrounding a possible agreement between the United States and Iran, along with expectations of the reopening of the Strait of Hormuz, boosted investor sentiment, leading the Indian equity market to begin the first trading session of the week on a firm note.

Immediately after the opening bell, buying support further strengthened both benchmark indices within the first 10 minutes of trading, resulting in an increase of more than ₹5 lakh crore in the market capitalisation of companies listed on the Bombay Stock Exchange (BSE). However, profit booking later emerged, causing some moderation in the upward momentum of both indices. By 10 a.m., the Sensex was trading 1.01 per cent higher, while the Nifty gained 0.91 per cent.

Among the heavyweight stocks, shares of Eicher Motors, Shriram Finance, Mahindra & Mahindra, HDFC Bank, and Bajaj Finance were trading higher by 5.15 per cent to 2.23 per cent. On the other hand, shares of Hindalco Industries, ONGC, TCS, Max Healthcare, and Sun Pharmaceutical Industries were trading lower by 2.01 per cent to 0.24 per cent.

So far, active trading was being witnessed in 2,786 stocks across the market. Of these, 2,229 stocks were trading in the green with gains, while 557 stocks were trading in the red with losses. Among the 30 constituent stocks of the Sensex, 26 were trading higher due to buying support, whereas four stocks remained under selling pressure. Similarly, among the 50 constituent stocks of the Nifty, 41 were trading in the green and nine in the red.

The BSE Sensex opened today at 76,135.82 points, registering a gain of 720.47 points. Strong buying immediately after the opening pushed the index to 76,334.77 points within the first 10 minutes of trade. Thereafter, profit booking emerged in the market, resulting in some decline in the index. Despite intermittent selling pressure, the Sensex continued to trade in positive territory. By 10 a.m., amid continuous buying and selling activity, the index was trading 752.09 points higher at 76,167.44 points.

Similarly, the National Stock Exchange of India (NSE) Nifty opened with a jump of 220.95 points at 23,940.25 points. Supported by early buying interest, the index climbed further to 23,989.10 points shortly after the market opened. Subsequently, profit booking led to selling pressure, causing some moderation in the index’s gains. Nevertheless, despite continuous buying and selling activity, the Nifty was trading 216.85 points higher at 23,936.15 points by 10 a.m.

Earlier, on the last trading day of the previous week on Friday, the Sensex had closed 231.99 points, or 0.31 per cent, higher at 75,415.35 points. Likewise, the Nifty ended Friday’s session with a gain of 64.60 points, or 0.27 per cent, at 23,719.30 points.

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Hindusthan Samachar / Jun Sarkar