Indian stock markets surged on Monday, driven by softer-than-expected US jobs data and falling crude oil prices, which bolstered investor confidence. The BSE Sensex climbed 472.77 points, or 0.66%, to close at 72,382.47, after reaching an intraday high of 72,631.93 with a gain of up to 722 points. The Nifty 50 also saw an uptick, advancing 133.80 points, or 0.60%, to settle at 22,555.75.
The positive market movement was largely attributed to weaker US employment figures, alleviating concerns over aggressive interest rate hikes by the US Federal Reserve. Additionally, easing inflationary pressures were supported by a decline in crude oil prices, with Brent crude trading around $102.40 per barrel.
Major gainers on the Sensex included companies such as ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. Conversely, stocks like HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
Investors are now turning their attention to forthcoming domestic economic events, including the Reserve Bank of India’s monetary policy decision and the upcoming corporate earnings season. These developments are expected to further influence market dynamics in the near term.
Regional markets presented a mixed picture, with Japan’s Nikkei 225 rising more than 2% while Hong Kong’s Hang Seng ended slightly higher, reflecting varied investor sentiments across Asia.