Monday’s market kicks off on a bullish note
Indian equities started the week on a hopeful path, with both flagship indices posting gains at the opening bell. The Nifty 50 launched at 22,532.40, while the BSE Sensex opened at 72,340.95, delivering roughly a 0.5 % rise for the former and a 0.6 % uplift for the latter.
Financials steer the rally
Banking stocks supplied the bulk of the upward thrust. The Nifty PSU Bank index surged past 2 %, putting public‑sector lenders at the forefront of the day’s action. HDFC Bank, Punjab National Bank and Bank of Baroda all logged solid advances, spurred by firm‑specific developments and quarterly disclosures.
Oil price dip relieves pressure
Global crude markets added a supportive layer, with Brent hovering around $101 a barrel and WTI near $90. Lower oil costs trim India’s import bill, ease inflationary pressures and improve margins for a broad swathe of corporates.
US rate‑cut optimism cools
Soft US employment data dampened expectations of a more aggressive Federal Reserve tightening cycle. The revised outlook lifted sentiment across world markets, allowing Indian benchmarks to rebound after eight consecutive weeks of decline.
Winners and losers
On the stock‑specific front, Bajaj Finance shone, reporting an 11 % year‑on‑year jump in new loan bookings for the September quarter. Other notable gainers included Shriram Finance, ITC, NTPC and Coal India. In contrast, shares of Apollo Hospitals, Infosys, Max Healthcare, Cipla and HCL Technologies faced selling pressure.
RBI policy meeting in focus
Domestic investors are also eyeing the Reserve Bank of India’s Monetary Policy Committee, which convened on Monday. The central bank is set to announce its next policy stance on October 7, and any commentary on interest rates could steer market direction for the rest of the week.
Overall, the combination of softer crude, receding US rate‑cut anxieties and robust buying in financials supplied a much‑needed lift to Indian markets after a recent slump.
