Indian stock markets saw a boost on Monday as the BSE Sensex climbed 472.77 points, or 0.66%, closing at 72,382.47. The Nifty 50 also made gains, rising by 133.80 points, or 0.60%, to finish at 22,555.75. The positive movement was largely attributed to softer-than-expected US jobs data and decreasing crude oil prices, which eased inflation concerns and bolstered investor sentiment.
The market was led by gains in shares of major companies such as ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. In contrast, some stocks, including HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints, recorded declines.
The weaker US employment data has diminished expectations of aggressive interest rate hikes by the US Federal Reserve, providing a sense of relief to investors. Additionally, Brent crude oil prices, trading around $102.40 a barrel, contributed to easing inflationary pressures, further improving market conditions.
Looking ahead, investors are turning their focus to upcoming domestic economic events. Key among these are the Reserve Bank of India’s monetary policy decision and the forthcoming corporate earnings season, which are expected to influence market dynamics in the near term.
On the international front, Asian markets presented a mixed picture. Japan’s Nikkei 225 saw a significant rise of over 2%, while Hong Kong’s Hang Seng index posted a slight increase. The overall mood in the region reflects varying responses to global economic indicators and local developments.