India’s BSE Sensex closed about 0.8% higher at 77,604 on Monday, snapping a three-session losing streak, as bargain hunting and a broadly positive global mood outweighed the drag from higher oil prices. Developments in the Middle East remained in focus. While President Trump cancelled an envoy’s trip to Islamabad for talks on Iran, Tehran reportedly proposed reopening the Strait of Hormuz and postponing nuclear negotiations as part of broader efforts to pause hostilities.
Buying in pharmaceuticals, information technology, automobiles and banking stocks underpinned the advance. Sun Pharma led the gains, jumping 7% after announcing a major all-cash acquisition of US-listed Organon in a deal valuing the company at $11.75 billion. Other notable gainers included Reliance (2.9%), Adani Ports (2.7%), Tech Mahindra (2.6%), M&M (2.1%), NTPC (2.1%), HCLTech (2.1%) and TCS (2.1%). On the downside, Axis Bank fell 3.1% after the lender reported a marginal decline in Q4 profit.
