Monday opens with a bullish surge
Indian equities kicked off the week on an optimistic footing, with both headline indices ticking higher in early trade. 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.
Banking sector fuels the upside
Financial stocks supplied the bulk of the upward thrust. The Nifty PSU Bank index surged over 2 %, positioning public‑sector lenders as the day’s chief drivers. HDFC Bank, Punjab National Bank and Bank of Baroda all posted noticeable upticks, buoyed by company‑specific developments and quarterly updates.
Falling oil prices ease cost pressures
A dip in global crude added further support, with Brent hovering near $101 a barrel and WTI around $90. Cheaper oil trims India’s import bill, cools inflationary pressures and improves cost structures for a wide array of corporates.
US rate‑cut hopes soften
Weaker‑than‑expected U.S. employment data dialed back expectations of a more aggressive Federal Reserve tightening cycle. The shift lifted sentiment across world markets, helping Indian benchmarks rebound after eight consecutive weeks of decline.
Top gainers and laggards
Among individual stocks, Bajaj Finance shone, reporting an 11 % year‑on‑year jump in new loan bookings for the September quarter. Other notable advancers 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 met on Monday. The central bank is scheduled to unveil its next decision on October 7, and any commentary on rates could steer market direction for the rest of the week.
Overall, the combination of softer crude, receding U.S. rate‑cut anxieties and strong buying in financials provided a much‑needed lift to Indian markets after a recent slump.
