Monday kicks off with a bullish lift
Indian equities opened the trading week on an optimistic note, with both headline indices climbing at the bell. The Nifty 50 launched at 22,532.40, while the BSE Sensex opened at 72,340.95, delivering approximate gains of 0.5 % and 0.6 % respectively.
Financials spearhead the rally
Banking stocks carried the bulk of the upside. The Nifty PSU Bank index surged beyond 2 %, placing state‑run lenders at the forefront of the day's momentum. HDFC Bank, Punjab National Bank and Bank of Baroda all posted solid advances, buoyed by company‑specific developments and quarterly disclosures.
Oil price retreat eases cost pressure
Global crude markets added a supportive layer, with Brent hovering near $101 per barrel and WTI around $90. The dip in oil prices lightens India's import bill, curbs inflationary pressure and improves cost structures for a wide array of corporates.
US rate‑cut optimism eases
Weaker‑than‑expected US jobs data trimmed expectations of a more aggressive Federal Reserve tightening cycle. The resulting sentiment boost rippled through global markets, helping Indian benchmarks rebound after eight consecutive weeks of decline.
Top gainers and laggards
On the stock‑specific front, Bajaj Finance stood out, reporting an 11 % year‑on‑year jump in new loan bookings for the September quarter. Other notable performers 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 slated to announce its next policy decision 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‑hike fears and robust buying in financials delivered a much‑needed lift to Indian markets after a recent slump.
