Monday kicks off with a bullish lift
Indian equities began the trading week on an upward trajectory, with both headline indices posting gains at the open. The Nifty 50 started at 22,532.40, while the BSE Sensex opened around 72,341, reflecting rises of roughly 0.5 % and 0.6 % respectively.
Banking stocks spearhead the rally
Financial shares supplied the bulk of the momentum. The Nifty PSU Bank index surged over 2 %, putting state‑run lenders at the forefront of the day’s performance. HDFC Bank, Punjab National Bank and Bank of Baroda all registered solid advances, buoyed by company‑specific developments and quarterly updates.
Oil price retreat eases cost pressures
Global crude markets added to the optimism, with Brent hovering near $101 per barrel and WTI around $90. Lower oil prices lighten India’s import bill, temper inflationary pressures and improve cost structures for a wide range of corporates.
Diminishing US rate‑cut expectations lift sentiment
Weaker‑than‑expected US employment data curbed fears of an aggressive Federal Reserve tightening cycle. The softer outlook lifted risk appetite worldwide, 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 increase in new loan bookings for the September quarter. Other notable performers included Shriram Finance, ITC, NTPC and Coal India. In contrast, 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 expected to announce its next 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 anxieties and strong buying in financials provided a much‑needed boost to Indian markets after a recent slump.
