FX.co ★ Sensex Rises to 3-Week High to Start Week

The BSE Sensex experienced a rise of 139 points, or 0.2%, reaching 84,701 during early trading on Monday. This increase marked the sixth consecutive session of gains, attaining its highest level since October 27, driven by an optimistic earnings outlook. Market sentiment was further bolstered by the decisive victory of the BJP-led NDA in the Bihar assembly elections, which heightened expectations for political stability and consistent policymaking. Most sectors traded positively, with notable performances in banking and financial services. Despite some downward pressure from Tata Motors, which fell by 4.2% after revising its margin forecasts, auto stocks saw a modest increase of 0.3%. However, the overall gains were tempered by a 0.3% decline in the IT sector, attributed to losses in TCS (-0.5%) and Infosys (-0.2%). Additionally, diminishing prospects of a US rate cut in December, prompted by hawkish comments from prominent Federal Reserve officials, also affected market sentiment. On a positive note, mid-cap and small-cap indices saw increases of 0.6% and 0.7%, respectively. Among the top performers were Kotak Mahindra, which climbed 1.3%, Axis Bank, rising 1.2%, and Bajaj Finance, with a gain of 1.0%.