Opening bell fuels a fresh upswing
Indian equity markets kicked off the week on an optimistic trajectory, with both marquee indices ticking higher as trading commenced. The Nifty 50 opened at 22,532.40, while the BSE Sensex began at 72,340.95, delivering approximate gains of 0.5 % and 0.6 % respectively.
Financials spearhead the advance
Banking stocks supplied the bulk of the lift. The Nifty PSU Bank index surged beyond 2 %, positioning state‑run lenders as the day’s primary drivers. HDFC Bank, Punjab National Bank and Bank of Baroda all posted solid upticks, buoyed by company‑specific developments and fresh quarterly data.
Oil price retreat eases cost pressures
A dip in global crude added further support, with Brent hovering near $101 a barrel and WTI around $90. Lower oil costs help trim India’s import bill, soften inflationary pressures and improve margins for a broad range of corporates.
US monetary outlook softens
Weaker‑than‑expected US payroll numbers have dampened expectations of a more aggressive Federal Reserve tightening path. That shift lifted risk sentiment worldwide, allowing Indian benchmarks to rebound after eight consecutive weeks of decline.
Stand‑out 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 spotlight
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 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‑cut fears and robust buying in financials supplied a much‑needed boost to Indian markets after a recent slump.
