Indian stocks kicked off the Fiscal Year 2025 with upliftment on Monday due to lower U.S. inflation statistics strengthening the probability of the Federal Reserve making its first rate cut since the commencement of this year in June.
The CME Group's FedWatch Tool indicates that traders are presently forecasting a 69% likelihood of the U.S. central bank initiating rate reductions in June.
Meanwhile, the upcoming MPC meeting of the Reserve Bank of India takes the spotlight, with analysts predicting the Indian central bank will maintain the status quo on interest rates.
The standard S&P BSE Sensex index climbed 363.20 points or 0.49%, ending at 74,014.55. Simultaneously, the broader NSE Nifty marked a rise of 135.10 or 0.61%, finalising at 22,462.
Metal shares experienced a surge, with giants Tata Steel and JSW Steel witnessing a 4-5% climb.
Further winners of the day included Adani Ports, Shriram Finance, and Divis Laboratories, each of which saw a 3-4% rise.
HDFC Bank observed a 1.5% increment after the private sector bank finalised a binding term sheet to sell its 100% stake in HDFC Education and Development Services Private Limited.
PNB Housing Finance saw a whopping 20% rise as Morgan Stanley upgraded its stock rating to 'overweight'.
On the other hand, Eicher Motors suffered a 1.7% decrement following a reported decrease in its commercial vehicle sales as of March.
Lastly, LTIMindTree, Nestle India and Titan Company each experienced a decrease of around 1%.
