The Indian stock markets started the month of May on a positive note, with both benchmark indices opening in the green as investors tracked state election results and global developments.
The Nifty 50 index opened at 24,063.55, rising 66 points or 0.28 per cent, while the BSE Sensex opened at 77,257.27, gaining 343.77 points or 0.45 per cent.
Market participants said sentiment remained supported by positive global cues, while domestic factors such as election results are expected to influence near-term movement.
Ajay Bagga, Banking and market expert, told ANI that markets are set for a constructive start after the holiday break.
He added that the rupee remains under pressure near record lows, while elevated crude oil prices amid tensions around the Strait of Hormuz continue to pose inflation risks for India.
Sectorally, most indices on the NSE opened with gains, except the Nifty Private Bank index. Nifty Auto rose 1.87 per cent, Nifty Realty gained 1.82 per cent, Nifty PSU Bank increased 1.23 per cent, and Nifty Metal was up 0.84 per cent.
Meanwhile, geopolitical developments remained in focus, with diplomatic exchanges between Washington and Tehran over the weekend.
Crude oil prices remained elevated, with Brent crude trading at USD 108.48 per barrel at the time of filing this report.
