Indian stock markets closed on a positive note on Monday, buoyed by softer-than-expected US employment data and declining crude oil prices, which boosted investor confidence. The BSE Sensex climbed 472.77 points, or 0.66%, to finish at 72,382.47, having surged as much as 722 points during the session to reach 72,631.93. Similarly, the Nifty 50 index saw a gain of 133.80 points, or 0.60%, ending the day at 22,555.75.
The upward movement in the Indian indices was largely driven by gains in major companies like ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. In contrast, stocks such as HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints experienced declines.
Investor sentiment received a boost from weaker US jobs data, which has tempered expectations of aggressive interest rate hikes by the US Federal Reserve. Additionally, easing crude oil prices, with Brent crude trading around $102.40 a barrel, alleviated some inflation concerns.
Market participants are now turning their attention to upcoming domestic economic events, including the Reserve Bank of India’s monetary policy decision and the forthcoming corporate earnings season, which are likely to influence market direction in the near term.
In the broader Asian markets, the performance was mixed. Japan’s Nikkei 225 recorded a rise of more than 2%, while Hong Kong’s Hang Seng index closed slightly higher, reflecting varied regional investor sentiment.