Monday launches with a firm rally
Indian equity markets kicked off the week on an optimistic trajectory, with both headline indices posting gains at the opening bell. The Nifty 50 opened at 22,532.40, while the BSE Sensex started at 72,340.95, reflecting approximate rises of 0.5 % and 0.6 % respectively.
Financials lead the charge
Banking stocks supplied the bulk of the upward thrust. The Nifty PSU Bank index surged over 2 %, putting state‑run lenders at the forefront of the day’s rally. HDFC Bank, Punjab National Bank and Bank of Baroda all logged noticeable upticks, buoyed by company‑specific developments and quarterly updates.
Oil price decline eases cost pressures
Global crude markets added further support, with Brent hovering near $101 a barrel and WTI around $90. Lower oil prices trim India’s import bill, temper inflationary pressures and improve cost structures across a broad set of corporates.
Reduced US rate‑cut expectations lift sentiment
Weaker‑than‑expected US payroll data dampened expectations of a more aggressive Federal Reserve tightening cycle. The shift boosted risk appetite worldwide, helping Indian benchmarks rebound after eight consecutive weeks of decline.
Winners and laggards
Among individual equities, 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 under the microscope
Domestic investors are also eyeing the Reserve Bank of India’s Monetary Policy Committee, which convened on Monday. The central bank is expected 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 concerns and strong buying in financials delivered a much‑needed lift to Indian markets after a recent slump.
