Indian benchmark indices started the week on a positive note, driven by strong buying in PSU bank stocks. The BSE Sensex advanced 122 points or 0.15 per cent to 79,980 while the Nifty 50 inched up to 24,405, up 42 points or 0.17 per cent in early trade.
Broader market indices also saw buying activity, with the BSE SmallCap adding 0.16 per cent and the BSE MidCap climbing 0.19 per cent. Last week, the Nifty and Sensex fell by nearly one per cent each.On the sectoral front, Nifty PSU Bank gained 1.42 per cent and Nifty IT lost 0.46 per cent. The majority of other indices showed modest gains up to 0.25 per cent.
In the US markets, technology stocks showed strong gains, as the Dow Jones Industrial Average rose 0.47 per cent, the Nasdaq gained 0.98 per cent, and the S&P 500 advanced 0.78 per cent.
In Asian markets, investors awaited an official announcement on whether the August 12 deadline for US China tariff truce would be extended. Japan’s Nikkei surged 1.85 per cent. China’s Shanghai added 0.38 per cent and Shenzen rose 1.39 per cent. Hong Kong’s Hang Seng climbed 0.21 per cent, and South Korea’s Kospi inched up 0.18 per cent.
