FX.co ★ India Shares Rise to Begin the Week

On Monday, the Indian stock market saw a gain of 498 points, or 0.6%, pushing it to 81,018 in early trading, marking a second day of upward momentum. This increase was primarily driven by sectors such as oil & gas, automotive, metals, and consumer durables. The BSE Sensex reached its highest level since mid-December, fueled by a rally on Wall Street the previous Friday, which was spurred by easing global trade tensions and robust U.S. trade data. Consistent foreign fund inflows, strong corporate earnings, and optimism about a potential trade agreement between India and the U.S. further boosted confidence. Similarly, the Nifty 50 climbed by 0.6%, surpassing the 24,500 milestone. However, the escalation in India-Pakistan geopolitical tensions somewhat restrained the gains. Leading performers included Adani Ports with a 4.1% rise, Bajaj Finserv up 2.7%, Asian Paints increasing by 2.5%, Mahindra & Mahindra climbing 1.4%, and HDFC Bank with a 1.3% gain. This week is pivotal, with over 70 companies, including Kotak Mahindra, SBI, and Mahindra & Mahindra, set to announce their Q4 financial results.