FX.co ★ India Stocks Hover at Over 7-Month High

India's stock market experienced a rise of 415 points, or 0.5%, reaching 82,604 in early Monday trading, marking a fourth consecutive session of gains and its highest level since early October 2024. This surge was seen across multiple sectors, with the banking and automotive industries leading the upward trend. Mirroring Wall Street's positive performance on Friday, the BSE Sensex benefitted from strong US employment data and renewed optimism about easing trade tensions between the United States and China. Investor sentiment received an additional boost from the Reserve Bank of India's unexpected actions on Friday, which included a more significant-than-anticipated cut in the repo rate and a reduction in the reserve requirement ratio (RRR), alongside progress in India-US trade discussions. Notably, small- and mid-cap stocks made a substantial impact, with both categories seeing increases of over 6%. Meanwhile, the Nifty 50 index rose by 0.5% to surpass 25,100, with Bajaj Finance increasing by 3.9%, Kotak Mahindra Bank by 3.0%, Bajaj Finserv by 2.7%, Axis Bank by 1.8%, and IndusInd Bank by 1.3%.