Mumbai, May 26
The domestic benchmark indices opened higher on Monday as India achieving a new high in the world’s largest economy ranking boosted investors’ sentiment.
At around 9.32 am, Sensex was trading 640.3 points or 0.78 per cent up at 82,361.46 while the Nifty added 187.39 point or 0.75 per cent at 25,040.45.
Nifty Bank was up 408.25 points or 0.74 per cent at 55,806.50 The Nifty Midcap 100 index was trading at 57,114.35 after rising 426.60 points or 0.75 per cent. Nifty Smallcap 100 index was at 17,789.25 after climbing 145.90 points or 0.83 per cent.
According to analysts, news of India becoming the fourth largest economy in the world would be a near-term morale boost for the market.
The RBI’s bumper dividend payment to the government exceeding the budget estimates will also help contain the fiscal deficit target for FY26 at 4.4 per cent.
"This, in turn, can sustain the low inflation and declining interest rate trend, which will continue to support the equity market. FII inflows which have been strong in early May have turned erratic recently indicating potential selling at higher levels," said VK Vijayakumar, Chief Investment Strategist of Geojit Investments Limited.