Indian stock markets saw gains on Monday, buoyed by softer-than-expected US jobs data and declining crude oil prices, which lifted investor sentiment. The BSE Sensex climbed 472.77 points, or 0.66%, closing at 72,382.47, after reaching a high of 72,631.93 during the trading session. Meanwhile, the Nifty 50 index increased by 133.80 points, or 0.60%, ending at 22,555.75.
The rally in the Sensex was driven by strong performances from companies such as 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 saw declines.
Market sentiment was positively influenced by weaker US employment data, which tempered expectations for aggressive interest rate hikes by the US Federal Reserve. Additionally, falling crude oil prices helped ease concerns about inflation, with Brent crude trading around $102.40 per barrel.
Investors are now turning their attention to forthcoming domestic economic developments, including the Reserve Bank of India’s monetary policy decision and the upcoming corporate earnings season. These factors are likely to influence market trends in the near future.
Elsewhere in Asia, market performances were mixed. Japan’s Nikkei 225 index posted a gain of more than 2%, while Hong Kong’s Hang Seng index closed slightly higher, reflecting varied investor sentiment across the region.