Indian stock markets experienced a notable boost on Monday, driven by softer-than-expected US employment data and declining crude oil prices, which together bolstered investor confidence. The BSE Sensex climbed 472.77 points, or 0.66%, to settle at 72,382.47, while the Nifty 50 saw an increase of 133.80 points, or 0.60%, closing at 22,555.75.
Key contributors to the Sensex’s rise included ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. Conversely, stocks such as HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints experienced declines.
The market sentiment was significantly influenced by the weaker US jobs data, which tempered expectations of aggressive interest rate hikes by the US Federal Reserve. Additionally, a drop in crude oil prices provided relief concerning inflation worries, with Brent crude trading around $102.40 per barrel.
Looking ahead, investors are keenly watching domestic economic developments, particularly the Reserve Bank of India’s upcoming monetary policy decision and the forthcoming corporate earnings season. These factors are expected to further shape market dynamics in the coming weeks.
In the broader Asian market context, outcomes were mixed. Japan’s Nikkei 225 saw a rise of over 2%, while Hong Kong’s Hang Seng index ended with a slight increase, reflecting varied regional responses to the global economic cues.