Indian stock markets opened higher on Monday, driven by gains in Tata Motors and Asian Paints, but traded with caution ahead of key corporate earnings reports. Despite the initial surge, technical indicators suggest continued market volatility and consolidation in the near term.

The Nifty 50 closed the session with a decline of 0.11%, settling at 24,122 points. The S&P BSE Sensex closed 14.16 points, or 0.02%, lower at 79,472.

Mehta Equities Ltd, said, Indian markets remain under pressure largely due to relentless foreign investor selling.

Benchmark stock market indices opened flat on Monday despite a gain in IT and auto stocks with the markets being dragged down by a decline in energy and metal stocks. The S&P BSE Sensex was down 48.63 points to 79,437.69, while the Nifty50 lost 20.40 points to 24,127.80 as of 9:40 AM.

The stock market is expected to trade in a narrow range today, following a positive opening signaled by GIFT Nifty. As of 8:00 am, GIFT Nifty was trading at 24,125, up by 0.03%.

Indian blue-chip indices, the Sensex and Nifty50, opened lower for the third straight session on Monday, as concerns over weak earnings and persistent foreign outflows continued to weigh on domestic equities.

At opening bell, the BSE Sensex was down 418.99 points, or 0.53 per cent, at 79,067; while the Nifty 50 was at 24,036, down 112.10 points, or 0.46 per cent. With Republican candidate Donald Trump emerging as the President-elect of the US,

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,130 level, a discount of nearly 90 points from the Nifty futures’ previous close.