India's BSE Sensex ended the trading session with a gain of approximately 0.7%, closing at 84,778.8 on Monday. This marks the highest closing level since September 2024, following a brief halt on Friday in its six-day winning streak. The market sentiment was buoyed by optimism surrounding US-China trade relations, alongside anticipations of a potential interest rate cut from the Federal Reserve. Such developments are typically favorable for emerging markets like India, making them more appealing for capital inflows. Additionally, continuous foreign investment and strengthening domestic economic fundamentals further lifted the market mood. According to a report from the Indian Finance Ministry released in September, the country's economic growth prospects for the current fiscal year remain robust, driven by strong domestic demand, an advantageous monsoon season, low inflation, and recent reductions in GST rates.
In the equities sector, Reliance Industries and Bharti Airtel each saw gains exceeding 2%, while SBI, HCL Tech, Tata Steel, and HDFC Bank also contributed positively to the upward movement. Nevertheless, Kotak Mahindra Bank experienced a decline, falling by 1.8%, after announcing an 11% drop in consolidated net profit for the September quarter.
