Indian stocks experienced significantly positive performance on Monday, influenced by a decrease in tension in the Middle East and anticipation of the impending earnings season. Contributing to the positive investor sentiment, the dollar saw a pause in its value increase while oil prices descended from a previously recorded six-month peak.
The primary Indian index, the S&P BSE Sensex, increased by 494.28 points equivalent to 0.67 percent, reaching 74,742.50. This increase occurred despite implications of the US jobs report for March which surpassed expectations and created uncertainties around the prospect of rate cuts.
The more extensive NSE Nifty index also experienced growth - up by 152.60 points or 0.68 percent, ending at 22,666.30. This jump happened even amidst mixed signals from global markets preceding a jam-packed week filled with US economic data publications and speeches from the Federal Reserve.
Jumping between 2 to 4 percent in the Nifty Index were SBI Life, NTPC, Maruti Suzuki India, Mahindra & Mahindra, and Eicher Motors. However, Apollo Hospitals Enterprise, Nestle India, and Adani Port saw a decline in their value between 1.2 to 1.6 percent.
Notably, Wipro saw a decline in its market value by 1 percent following the resignation of its Chief Executive Officer, Thierry Delaporte.
On a positive note, Voltas saw a 6.3 percent surge in value following an announcement that they had attained a record-breaking air conditioning unit sale of 2 million units in the financial year 2024.
Finally, Adani Green Energy also saw a positive market response, with a 1.2 percent increase in value following announcements of its expansion plans.
