Indian Indices Rally as Sensex and Nifty Gain; ITC and Bajaj Finance Drive Top Performers

Indian equities, including the BSE Sensex and NSE Nifty, recovered on Monday after eight consecutive weeks of declines, with both indices rising roughly half a percent in early trading as lower crude oil prices and stronger global sentiment encouraged buying. The Sensex gained 371.64 points (0.52%) to 72,281.34, while the Nifty 50 advanced 108.45 points (0.48%) to 22,530.40. This rebound followed a prolonged sell‑off in domestic markets, as investors monitored crude price movements, foreign fund flows, and expectations about U.S. interest rates. Financial stocks led the gainers. Bajaj Finance surged after reporting an 11% year‑on‑year increase in new loans for the September quarter. Punjab National Bank and Bank of Baroda also rose following higher advances. Mahindra & Mahindra Financial Services climbed after a 22% rise in quarterly disbursements. ITC added more than 5% after Citi upgraded its recommendation. Shares of FSN E‑Commerce Ventures, the parent of Nykaa, also rose on the back of positive quarterly performance. Gains were tempered by weakness in select technology and consumer stocks; HCL Technologies fell about 3%, and Asian Paints, Max Healthcare, and Avenue Supermarts were among the decliners. Sentiment improved further as crude oil prices eased, with Brent trading near $102 per barrel, easing pressure on India’s import bill and inflation outlook. Unexpectedly weak U.S. employment data bolstered expectations that the Federal Reserve may adopt a more moderate monetary stance, supporting risk appetite in emerging markets. Investors will now watch the Reserve Bank of India’s policy decision, foreign institutional investor flows, crude prices, and the September‑quarter earnings season. TCS is slated to release its quarterly results on October 8, kicking off a closely watched earnings period for Indian markets.

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