Indian stock markets closed higher on Monday, buoyed by softer-than-expected US employment data and a dip in crude oil prices. The BSE Sensex rose by 472.77 points, or 0.66%, to settle at 72,382.47, after peaking at 72,631.93 earlier in the session. Meanwhile, the Nifty 50 climbed 133.80 points, or 0.60%, closing 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, stocks such as HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints saw declines.
The market’s positive sentiment was largely driven by weaker US jobs data, which eased concerns over aggressive interest rate hikes by the US Federal Reserve. Additionally, a decrease in crude oil prices, with Brent crude trading around $102.40 a barrel, alleviated some inflationary pressures.
Investors are now turning their attention to domestic economic indicators, including the Reserve Bank of India’s upcoming monetary policy decision and the forthcoming corporate earnings season.
In broader Asian markets, the response was mixed. Japan’s Nikkei 225 saw an increase of over 2%, while Hong Kong’s Hang Seng posted a slight gain.