Indian stock markets experienced a positive session on Monday, driven by softer-than-expected U.S. jobs data and a decline in crude oil prices, which together bolstered investor confidence. The BSE Sensex rose by 472.77 points, or 0.66%, closing at 72,382.47, after reaching an intraday high of 72,631.93. Similarly, the Nifty 50 index climbed 133.80 points, or 0.60%, to settle at 22,555.75.
Market gains were primarily led by companies such as ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. However, some major stocks like HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
The softer U.S. employment data played a significant role in shaping market sentiment, as it reduced the likelihood of aggressive interest rate hikes by the U.S. Federal Reserve. Additionally, the easing of crude oil prices, with Brent crude trading around $102.40 a barrel, helped alleviate inflation concerns.
Investors are now turning their attention to upcoming domestic economic events, such as the Reserve Bank of India’s monetary policy decision and the forthcoming corporate earnings season, which are expected to further influence market dynamics.
Meanwhile, Asian markets displayed mixed results, with Japan’s Nikkei 225 surging more than 2%, while Hong Kong’s Hang Seng index recorded a slight uptick.