Sensex, Nifty Edge Up in Early Trade as Investors Seek Cues Amid Mixed Asian Markets

 The Sensex and Nifty saw marginal gains in early trading on Monday as investors sought solid cues amidst mixed trends in Asian markets. The 30-share Sensex rose by 23.96 points, or 0.03%, to reach 72,450.60 points, with 16 constituents trading positively. Notably, Bharti Airtel and Bajaj Finance saw gains of over 1%.

Meanwhile, the broader Nifty edged up by 32.35 points, or 0.15%, reaching 22,073.05 points, with 26 scrips in the index showing positive movement. Deepak Jasani, Head of Retail Research at HDFC Securities, commented that Asian shares started slowly on Monday, influenced by diminishing prospects for early rate cuts globally, although investors are optimistic about a potential upbeat return in Chinese markets post-holiday.

The US market will remain closed on Monday in observance of President's Day. Last Friday, US stocks closed in negative territory, with all three major indices recording weekly losses, as investors weighed inflation data and company earnings.

Over the past four trading sessions, the key domestic equity indices have shown gains, with the Sensex rising by 376.26 points to close at 72,426.64 points on Friday, while the Nifty climbed 129.95 points to end the day at 22,040.70 points.