Indian stock markets saw robust gains on Monday, driven by unexpectedly soft US jobs data and a drop in crude oil prices, which bolstered investor confidence. The BSE Sensex climbed 472.77 points, or 0.66%, closing at 72,382.47, after reaching an intraday high of 72,631.93. Similarly, the Nifty 50 index rose by 133.80 points, or 0.60%, ending the session at 22,555.75.
The positive movement in the market was largely influenced by weaker US employment figures, which eased concerns about aggressive interest rate hikes by the US Federal Reserve. This development, coupled with a decline in crude oil prices to around $102.40 per barrel, helped alleviate some inflation worries, providing further support to market sentiment.
Key gainers on the Sensex 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 saw declines.
As investors digest these developments, attention is now turning towards upcoming domestic economic indicators. The Reserve Bank of India’s monetary policy decision and the next corporate earnings season are expected to be pivotal in shaping market directions in the near term.
In the broader Asian market context, performance was mixed. Japan’s Nikkei 225 recorded a significant rise of over 2%, while the Hong Kong Hang Seng index showed a slight increase by the end of the trading day.