Indian stock markets experienced a boost on Monday, driven by softer-than-expected US jobs data and a decrease in crude oil prices, which improved investor sentiment. The BSE Sensex rose by 472.77 points, or 0.66%, closing at 72,382.47. It reached an intraday high of 72,631.93 after climbing as much as 722 points. Meanwhile, the Nifty 50 index advanced 133.80 points, or 0.60%, to end at 22,555.75.
The positive market movement was largely attributed to the weaker US employment figures, which eased concerns about aggressive interest rate hikes by the US Federal Reserve. Additionally, the lower crude oil prices, with Brent crude trading around $102.40 per barrel, alleviated some inflation worries, further buoying the market mood.
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. However, not all stocks shared in the gains, as HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
Investors are now turning their attention to upcoming domestic economic events, including the Reserve Bank of India’s monetary policy decision and the next corporate earnings season, which could further influence market directions.
In the broader Asian market, performances were mixed. Japan’s Nikkei 225 index posted a gain of more than 2%, whereas Hong Kong’s Hang Seng index concluded slightly higher, reflecting varied regional market reactions to the global economic data.
