Mumbai, Oct 27 || Indian stock markets opened on a positive note on Monday, supported by progress in trade talks between the United States and China.
Investors showed optimism after reports suggested that both countries are close to signing a deal to ease trade tensions.
The Sensex was trading at 84,450, up by 239 points or 0.28 per cent, while the Nifty stood at 25,874, gaining 79 points or 0.30 per cent.
On the weekly timeframe, the index witnessed a correction of nearly 311 points from its high, indicating heightened volatility and profit booking at higher levels.
“A breakdown below 25,670 could trigger weakness toward 25,500–25,400, while on the upside, resistance is placed at 25,950, followed by 26,000 and 26,100,” analysts said.
“Sustaining above these resistance levels will be crucial for the index to resume its upward trajectory,” they added.
Among the top performers on the Sensex were Tata Steel, Bharti Airtel, Tech Mahindra, and HDFC Bank, which rose up to 1.4 per cent.