Sensex Gains 473 Points
Indian stock market rebounds after four-day decline, driven by easing crude oil prices and positive cues from Asian markets. The BSE Sensex jumped 473 points to 72,382.47, while the NSE Nifty climbed 133.80 points to 22,555.75.
Global Newsflix 2 min read
The Indian stock market snapped its four-day losing streak on Monday, with the BSE Sensex surging 705.70 points to 72,594.57 and the NSE Nifty jumping 187.30 points to 22,605.10 in early trade.
The 30-share BSE Sensex eventually closed at 72,382.47, gaining 472.77 points, or 0.66%, while the NSE Nifty ended at 22,555.75, up 133.80 points, or 0.6%.
ITC was the biggest contributing stock on the Nifty 50 index, rising 5.08% after analysts gave positive commentary on the company's mitigation actions and profitability.
Other top gainers included BSE, Tata Motors PV, Shriram Finance, and Bajaj Finance, while HCL Technologies, Max Healthcare Institute, HDFC Bank, Apollo Hospitals, and Asian Paints were among the top losers.
The rebound in the market was driven by easing crude oil prices, with Brent crude declining 0.70% to $101.5 a barrel, and positive cues from Asian markets.
V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, said the market appears set for a rebound in the near term, driven by better-than-expected results from Accenture and the appointment of Anup Bagchi as MD and CEO of HDFC Bank.
Anup Bagchi is set to take over as MD and CEO of HDFC Bank from October 27, 2026, for a three-year term, following the Reserve Bank's clearance of his appointment.
Key facts
- BSE Sensex closed at 72,382.47, up 472.77 points
- NSE Nifty ended at 22,555.75, up 133.80 points
- ITC rose 5.08% after positive analyst commentary
- Brent crude declined 0.70% to $101.5 a barrel
Three perspectives
Neutral
The Indian stock market's rebound is a positive sign, but it remains to be seen whether the trend will continue. Investors will be watching the market's reaction to upcoming events, including the Federal Reserve's October meeting.
Positive
The appointment of Anup Bagchi as MD and CEO of HDFC Bank is expected to lead to a turnaround in the market, driven by his experience and leadership. The easing of crude oil prices is also a positive sign for the economy.
Negative
The market's rebound may be short-lived, as concerns over further Federal Reserve tightening and global economic uncertainty remain. The decline of top stocks like HCL Technologies and HDFC Bank is also a cause for concern.
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