Indian benchmark stock indices closed higher on Monday, buoyed by softer-than-expected U.S. jobs data and easing crude oil prices, both of which contributed to improved investor sentiment. The BSE Sensex rose by 472.77 points, or 0.66%, to settle at 72,382.47. During the trading session, it reached an intraday high of 72,631.93 after climbing as much as 722 points. Meanwhile, the Nifty 50 index advanced by 133.80 points, or 0.60%, finishing at 22,555.75.
Key gainers on the Sensex included ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. Conversely, some stocks such as HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints experienced declines despite the overall market uplift.
The market’s positive movement was largely attributed to weaker U.S. employment data, which tempered expectations of aggressive interest rate hikes by the U.S. Federal Reserve. Additionally, the decline in crude oil prices, with Brent crude trading around $102.40 a barrel, offered relief from inflation concerns.
Looking ahead, investors are turning their attention towards upcoming domestic economic developments. These include the Reserve Bank of India’s impending monetary policy decision and the next corporate earnings season, both of which could shape market dynamics in the near future.
Elsewhere in Asia, market performance was mixed. Japan’s Nikkei 225 saw a rise of over 2%, while Hong Kong’s Hang Seng edged slightly higher, reflecting varied regional market responses to the same global economic cues.