Benchmark indices--Sensex and Nifty--were 0.7-0.8 per cent higher from the Saturday closing. Among the widely-tracked Nifty 50 stocks, 39 advanced and the rest 11 declined at the opening bell.
The combined value of shares listed on Indian exchanges reached USD 4.33 trillion as of Monday's close, versus USD 4.29 trillion for Hong Kong, according to data compiled by Bloomberg.
Indian stock exchanges are closed Monday on the occasion of pran pratistha of Ram Temple in Ayodhya, with normal trading activities to resume on Tuesday.
The BSE trading session is ongoing on Saturday after a long time. Moreover, trading on the National Stock Exchange will remain closed on January 22 as the Maharashtra government has announced a holiday owing to the Pran Pratishtha ceremony.
The market dynamics indicated a challenging start, with a notable number of companies registering declines. In the Nifty index, only five companies showed advances, while a significant 45 companies faced declines.
Simultaneously, the Nifty took a hit of 243.30 points, kicking off at 21,786.00. Market sentiments were strongly bearish, reflecting concerns about the economic outlook.
BPCL, Tata Steel, Titan, ITC, and Maruti emerged as the top performers among Nifty companies, contributing significantly to the positive momentum whereas Divi's Lab, HCL Technology, NTPC, Wipro, and Infosys faced declines, reflecting the dynamic nature of the market.