Stocktwits - Dalal Street witnessed a powerful rally at the open on Monday, with benchmark indices climbing nearly 2% in early trade.
The surge was driven by two key triggers: a ceasefire agreement between India and Pakistan that eased regional tensions, and encouraging updates from U.S.-China trade talks in Switzerland, where both sides signaled an "important consensus."
By 9:30 a.m. IST, the Nifty jumped 580 points to 25,588, while the Sensex surged 1,884 points to hit 81,338.
Broader markets outperformed, with the Nifty midcap and smallcap indices each rising by about 3%.
Despite the green wave, retail sentiment on Stocktwits for the Nifty 50 remains ’bearish’.
Nifty sentiment and message volume on May 12 as of 9:30 am IST. | source: StocktwitsSector-wise, all indices except pharma traded in the green, led by strong buying in real estate, financials, and metals.
Pharma stocks came under pressure after U.S. President Donald Trump announced plans to reduce prescription drug costs by benchmarking them against international prices.
The development triggered investor concern over profit margins for Indian pharma exporters. Sun Pharma (NSE:SUN) fell 5%, while Lupin (NSE:LUPN) and Aurobindo Pharma (NSE:ARBN) declined around 3% each.
Among individual stocks, Yes Bank (NSE:YESB) gained 4% following the announcement that Japan’s Sumitomo Mitsui Banking Corporation will acquire a 20% stake for ₹13,483 crore at ₹21.5 per share. The deal involves SBI (NSE:SBI) offloading a 13.19% stake along with stake sales from HDFC Bank (NSE:HDBK), ICICI Bank (NSE:ICBK), Kotak Mahindra (NSE:KTKM), and others.
Swiggy traded 1% lower after reporting a net loss of ₹1,081 crore in the March quarter, nearly doubling from the previous year. Its revenue rose 45%, driven by strong growth in food delivery and Instamart.
Union Bank of India (NSE:UNBK) gained 4% after reporting a 51% year-on-year jump in net profit.
Adani Power (NSE:ADAN) surged 7% after emerging as the lowest bidder for a 1,500 MW thermal power contract in Uttar Pradesh.
Investors will monitor Tata Steel (NSE:TISC), Happiest Minds (NSE:HAPP) Tech, UPL (NSE:UPLL), SRF (NSE:SRFL), PVR-Inox, Raymond (NSE:RYMD) as they report quarterly numbers later in the day.
SEBI-registered advisors shared the day’s trade setup on Stocktwits.
Sameer Pande pegs Nifty support at 23,800 and resistance between 24,600-24,900.
For Bank Nifty, he sees support at 52,900 and resistance at 56,200.
Ashish Kyal emphasizes the importance of sustaining above the 24,450 level for at least an hour to confirm the resumption of a positive trend towards the Gann target of 24,728.
He highlighted 24,220 as a key support level — any fall below this could trigger gap-filling and renewed selling pressure.
Meanwhile, Asian markets and U.S. stock futures edged higher on the back of signs that the U.S.-China trade standoff may be easing.