Indian stock markets closed higher on Monday, buoyed by softer-than-expected U.S. jobs data and declining crude oil prices, which lifted investor sentiment. The BSE Sensex rose by 472.77 points, or 0.66%, ending the day at 72,382.47, after peaking at an intraday high of 72,631.93 with a gain of 722 points. Meanwhile, the Nifty 50 index climbed 133.80 points, or 0.60%, to settle at 22,555.75.
The upbeat performance was driven by gains in major stocks such as ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. Conversely, HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
The market’s positive momentum was largely attributed to the weaker U.S. employment data, which tempered expectations of aggressive interest rate hikes by the U.S. Federal Reserve. Additionally, a drop in crude oil prices, with Brent crude trading around $102.40 per barrel, eased concerns about inflationary pressures.
Investors are now turning their attention to upcoming domestic economic events, including the Reserve Bank of India’s impending monetary policy decision and the forthcoming corporate earnings season.
Across Asia, market performances were mixed. Japan’s Nikkei 225 showed a significant rise of over 2%, while Hong Kong’s Hang Seng index ended the day with slight gains.