India’s BSE Sensex climbed 0.9% to 72,546 on Monday, snapping a four-session losing streak as easing crude prices and diminishing expectations of a US Federal Reserve rate hike improved risk sentiment, even as foreign investor outflows persisted. The benchmark had logged its eighth straight weekly loss last week, marking its longest such downturn in 25 years.
Softer-than-expected US employment data further tempered the outlook for an October Fed hike, with futures now implying roughly a 22% probability, down from 64% a week earlier.
Financials led the advance, gaining about 1.1%. HDFC Bank added 1% after naming Anup Bagchi as chief executive officer for a three-year term, while Bajaj Finance rallied 3.6% following an 11% year-on-year rise in new loans booked in the second quarter.
Tata Motors rose 0.7% after its Jaguar Land Rover unit reported a 25.5% year-on-year increase in wholesale volumes, offsetting concern over a 7.5% decline in retail sales. By contrast, Avenue Supermarts slipped 0.7% despite posting an 18.4% year-on-year increase in standalone revenue for the September quarter.
