Indian shares closed higher on Monday, reflecting gains observed in other Asian and European markets. This positive shift in sentiment followed the first round of voting, which left Marine Le Pen's National Rally falling short of a parliamentary majority, thereby alleviating concerns about further pressures on France's public finances.
President Emmanuel Macron has called for a broad coalition against the far right in the upcoming second round of voting. This next phase will feature run-off elections among candidates where no outright winner was determined in the initial round.
The benchmark S&P BSE Sensex rose by 443.46 points, or 0.56%, ending the session at 79,476.19, thereby continuing its upward trend. Similarly, the broader NSE Nifty index gained 131.35 points, or 0.55%, closing at 24,141.95. Mid-cap and small-cap stocks also exhibited renewed strength.
In the IT sector, Tech Mahindra and Wipro were among the top gainers, climbing 3% and 2.4%, respectively. Additionally, Bajaj Finance, Grasim, and UltraTech Cement each saw approximately a 2% increase. Conversely, Apollo Hospital Enterprise, Eicher Motors, and NTPC experienced declines of 1-2%.
