India’s equity benchmarks edged higher at the open on Monday, supported by an improving earnings outlook, though a slide in Tata Motors Passenger Vehicles TMPV after it cut its margin forecast tempered gains.
The Nifty 50 NIFTY rose 0.16% to 25,952.6, while the BSE Sensex SENSEX gained 0.2% to 84,727.75 as of 9:20 a.m. IST.
Fourteen of the 16 major sectors advanced. Broader small-caps CNXSMALLCAP and mid-caps (.NIFDMCP100) climbed 0.5% and 0.4%, respectively.
Both Nifty and Sensex rose about 1.6% last week, as improving corporate earnings and a key state election result aided the buying interest.
The Nifty 50 is currently trading 1.2% below the all-time high level of 26,277.37, touched in September 2024.
Other Asian markets were muted after Japan’s economy contracted for the first time in six quarters due to the U.S. tariff hit.
Fading expectations of a U.S. rate cut in December following hawkish comments from key Federal Reserve policymakers also weighed on sentiment.
Tata Motors Passenger Vehicles fell 5% after the company cut its fiscal year 2026 margin forecast for Jaguar Land Rover.
