The Indian stock market had a positive opening on July 5, 2023. The Sensex gained 350 points, reaching a total of 19,400 on the Nifty. Among the top gainers in the Sensex were Bajaj Finance, which rallied 5%, followed by SpiceJet, Titan, and HDFC Bank. However, Infosys and TCS were among the laggards.
Positive global cues contributed to the market sentiment. Asian markets, including Japan’s Nikkei 225 index, rose by 1.2%. Meanwhile, US stocks closed higher on Monday, with the S&P 500 index reaching a record high.
The upcoming earnings season is expected to benefit the domestic market. Several blue-chip companies are scheduled to report their results in the coming weeks, and analysts predict strong earnings growth.
Despite the positive outlook, some analysts cautioned that the market may face profit-taking in the near term. With the Sensex already up more than 10% this year, some investors might decide to take profits from recent gains.
Overall, while the market is anticipated to remain positive in the near term, investors should be prepared for potential volatility.
