Indian stock markets experienced a boost on Monday, driven by unexpectedly softer U.S. jobs data and a decline in crude oil prices, leading to improved investor sentiment. The BSE Sensex rose by 472.77 points, or 0.66%, closing at 72,382.47, after reaching an intraday high of 72,631.93. The Nifty 50 index also saw an increase, advancing by 133.80 points, or 0.60%, to end at 22,555.75.
The positive movement in the markets was supported by a decline in U.S. employment data, which has lessened fears of aggressive interest rate hikes by the Federal Reserve. Additionally, falling crude oil prices, with Brent crude trading around $102.40 a barrel, alleviated some inflation concerns, contributing to the optimistic outlook among investors.
Among the top gainers on the Sensex were ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro. Conversely, shares of HCL Technologies, HDFC Bank, Sun Pharma, Infosys, and Asian Paints experienced declines.
Looking ahead, investors are turning their attention towards domestic economic developments, particularly the upcoming monetary policy decision by the Reserve Bank of India and the next corporate earnings season, which are expected to provide further direction for the markets.
Elsewhere in Asia, market performance was mixed. Japan’s Nikkei 225 showed a significant upward movement, rising more than 2%, while Hong Kong’s Hang Seng index saw a modest increase by the end of the trading session.