Indian shares opened positively on Monday, buoyed by optimism surrounding potential U.S. rate cuts and a continued decline in oil prices driven by the prospect of higher OPEC+ supply.
The benchmark S&P/BSE Sensex rose by 230 points, or 0.3%, to 82,595 in early trading, while the broader NSE Nifty index increased by 58 points, or 0.2%, to 25,294.
Tata Consumer Products saw a 1.1% rise following the successful merger of its three wholly owned subsidiaries.
SJVN, NHPC Ltd., and RailTel Corporation of India each surged roughly 3% after being awarded "Navratna" status by the Government of India, making them the 18th, 19th, and 20th companies to receive this designation.
Biocon appreciated by 1% after its subsidiary received FDA approval to market a generic medication for chronic heart failure.
Conversely, Tata Motors dropped by over 1% following an 8% decline in total domestic sales for August.
Maruti Suzuki India saw a modest gain of 0.5% despite a 4% decrease in total sales for August.
Two-wheeler manufacturers Bajaj Auto and Hero MotoCorp each rose approximately 2%. NBCC increased by 0.6% after announcing a 1:2 bonus issue.
Insecticides India plunged by 4.2% after its board approved a buyback proposal for five lakh shares via the tender route.
