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Auto stocks surged on Monday with Bharat Forge up 7% and Ashok Leyland hitting a 52-week high. Nifty Auto index rose over 3%, supported by GST cuts and upbeat sector sentiment.
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Market sentiment stays cautiously optimistic with Nifty showing resilience despite sluggish moves. Analysts expect a gradual rise towards 25,000, while midcaps, Tata Motors, and Havells are emerging as strong trading opportunities amid bullish technical signals.
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Indian benchmark indices Sensex and Nifty closed in the green on Monday, lifted by auto and metal shares, as optimism over sweeping GST tax cuts and China’s steel reforms supported sentiment alongside expectations of a Federal Reserve rate cut this month.
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Domestic gold prices surged to a lifetime high of ₹1,08,060 per 10 gm, supported by rupee weakness, Fed rate cut hopes, and safe-haven demand amid global economic and geopolitical uncertainties.
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