Indian stock markets experienced a boost on Monday, with benchmark indices closing higher due to softer US jobs data and a decline in crude oil prices, which helped lift investor sentiment. The BSE Sensex climbed 472.77 points, or 0.66%, to end at 72,382.47, after reaching an intraday high of 72,631.93 with a gain of up to 722 points. Meanwhile, the Nifty 50 rose by 133.80 points, or 0.60%, closing at 22,555.75.
The positive movement in the market was primarily driven by reduced concerns over aggressive interest rate hikes by the US Federal Reserve, following weaker-than-expected employment data from the United States. Additionally, the easing of crude oil prices, with Brent crude trading around $102.40 a barrel, provided relief from inflationary pressures.
Among the top gainers on the Sensex were companies such as ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. On the other hand, stocks like HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints witnessed declines.
Investors are now turning their attention to upcoming domestic economic events, including the Reserve Bank of India’s forthcoming monetary policy decision and the next corporate earnings season. These developments are expected to further influence market trends in the coming days.
In the broader Asian market context, indices showed mixed results. Japan’s Nikkei 225 saw a significant rise of over 2%, while Hong Kong’s Hang Seng index ended the day with modest gains.