A buoyant start to the trading week
Indian equity markets opened the week on a hopeful note, with both marquee indices ticking higher in early trade. The Nifty 50 kicked off at 22,532.40 and the BSE Sensex at 72,340.95, delivering approximate gains of 0.5 % and 0.6 % respectively.
Banking stocks spearhead the rally
Financial shares supplied the bulk of the upside. The Nifty PSU Bank index surged past the 2 % mark, putting public‑sector lenders in the spotlight. HDFC Bank, Punjab National Bank and Bank of Baroda all posted solid advances, backed by company‑specific developments and quarterly results.
Oil price retreat lifts market mood
A dip in global crude added further encouragement, with Brent hovering around $101 per barrel and WTI near $90. Lower oil costs ease India’s import bill, temper inflationary pressure and improve margins for a swath of corporates.
Dampened US rate‑cut expectations
A softer‑than‑forecast US jobs report trimmed hopes of a more aggressive Federal Reserve tightening cycle. The resulting optimism filtered through global markets, helping Indian benchmarks rebound after eight consecutive weeks of decline.
Top gainers and laggards
On the stock‑specific front, Bajaj Finance shone, reporting an 11 % YoY jump in new loan bookings for the September quarter. Other notable winners were Shriram Finance, ITC, NTPC and Coal India. In contrast, 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 unveil its next decision on October 7, and any commentary on interest rates could steer market direction for the rest of the week.
Overall, a mix of softer crude, receding US rate concerns and vigorous buying in financials delivered a much‑needed lift to Indian markets after a recent slump.
