Indian stock markets surged on Monday, driven by softer-than-expected U.S. jobs data and a decline in crude oil prices, which buoyed investor sentiment. 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. Similarly, the Nifty 50 gained 133.80 points, or 0.60%, ending the session at 22,555.75.
The rally was bolstered by major Sensex constituents such as ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro, which saw notable gains. Conversely, stocks including HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints experienced declines.
Investor optimism was largely supported by weaker U.S. employment figures, which eased concerns over aggressive interest rate hikes by the U.S. Federal Reserve. Additionally, the easing of crude oil prices, with Brent crude trading around $102.40 a barrel, alleviated some inflationary pressures.
Looking ahead, investors are turning their attention to upcoming domestic economic developments, notably the Reserve Bank of India’s impending monetary policy decision and the next corporate earnings season. These events are anticipated to further influence market movements in the near future.
Across Asia, market performance was mixed. Japan’s Nikkei 225 recorded a significant rise of over 2%, while Hong Kong’s Hang Seng index closed slightly higher, reflecting varied investor reactions to global economic signals.