Indian stock markets closed higher on Monday, driven by positive investor sentiment after softer-than-expected U.S. jobs data and easing crude oil prices. The BSE Sensex rose by 472.77 points, or 0.66%, finishing at 72,382.47, while the Nifty 50 climbed 133.80 points, or 0.60%, to settle at 22,555.75.
The market rally was bolstered by a reduction in fears of aggressive interest rate hikes by the U.S. Federal Reserve, following the release of weaker U.S. employment data. Additionally, the decline in crude oil prices, with Brent crude trading around $102.40 a barrel, eased inflation concerns, further supporting investor confidence.
Notable gainers on the Sensex included ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. However, some stocks like HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
Looking ahead, investors are turning their attention to upcoming domestic economic events, particularly the Reserve Bank of India’s monetary policy decision and the next corporate earnings season, which could impact market movements.
In the broader Asian market context, there was a mixed performance. Japan’s Nikkei 225 showed a significant rise of over 2%, whereas Hong Kong’s Hang Seng ended the day slightly higher.