Indian stock markets saw a notable uptick on Monday, buoyed by softer-than-expected employment data from the United States and a decline in crude oil prices, both of which enhanced investor confidence. The BSE Sensex rose by 472.77 points, or 0.66%, to conclude the day at 72,382.47, after peaking at 72,631.93, marking an intraday gain of up to 722 points. Meanwhile, the Nifty 50 index experienced a gain of 133.80 points, or 0.60%, finishing at 22,555.75.
This positive momentum in the markets was largely driven by the weaker US jobs data, which tempered expectations of aggressive interest rate hikes by the US Federal Reserve. Additionally, the reduction in crude oil prices, with Brent crude trading around $102.40 a barrel, alleviated some inflation concerns among investors.
Among the major gainers on the Sensex were ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. Conversely, HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
As investors absorbed these developments, attention is now shifting to domestic economic indicators, including the upcoming monetary policy decision by the Reserve Bank of India and the next corporate earnings season. These factors are likely to influence market trends in the near future.
Across Asia, market results varied, with Japan’s Nikkei 225 advancing by more than 2%, while Hong Kong’s Hang Seng index closed slightly higher, reflecting a mixed sentiment across the region.