Stock Markets Rebound in Early Trade; Sensex Jumps over 700 Points
The Sensex rose 472.77 points and the Nifty gained 133.80 points as softer U.S. jobs data eased expectations of aggressive Federal Reserve tightening.
- On Monday, the BSE Sensex jumped 472.77 points, or 0.66%, to settle at 72,382.47, while the NSE Nifty climbed 133.80 points, or 0.60%, to end at 22,555.75.
- Softer-than-Expected US jobs data reduced expectations of aggressive monetary tightening by the Federal Reserve, while Brent crude eased to $102.4 per barrel, supporting risk appetite.
- Major Sensex winners included ITC, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries, and Larsen & Toubro, marking recovery after Thursday's 0.79% and 0.88% declines.
- Following the Reserve Bank's approval on Thursday, Anup Bagchi is set to become the next managing director and CEO of HDFC Bank, succeeding Sashidhar Jagdishan from October 27.
- Across Asian markets, Japan's Nikkei 225 index jumped over 2%, while the Hang Seng index ended marginally higher and European markets traded on a mixed note.
16 Articles
16 Articles
Sensex Ends 472 Points Higher, Nifty Crosses 22,500; FMCG, Energy and Banking Stocks Lead
Get latest articles and stories on Business at LatestLY. Indian equity markets ended higher on Monday, with FMCG, energy and banking stocks driving the recovery. The market was also supported by positive global cues with Brent crude offering some relief on the inflation front. Business News | Sensex Ends 472 Points Higher, Nifty Crosses 22,500; FMCG, Energy and Banking Stocks Lead.
Stock markets rebound in early trade; Sensex jumps over 700 points
Mumbai, Oct 05: Market benchmark indices Sensex and Nifty rebounded in early trade on Monday, following a decline in crude oil prices and easing concerns over further Federal Reserve tightening at its October meeting. The 30-share BSE Sensex jumped 413 points to 72,315 in early trade. The 50-share NSE Nifty climbed 131.55 points to 22,554.20. Later in the trade, the BSE benchmark surged 705.70 points to 72,594.57, and the Nifty jumped 187.30 poi…
Has the Indian stock market bottomed out after reaching six-month low or more downside left? What experts suggest
Domestic indices surged on 5 October, with the Nifty 50 up 0.60%, fueled by lower crude prices and softer US jobs data. Analysts remain sceptical that this marks a sustained recovery, citing risks posed by high bond yields and continued foreign selling.
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