Indian markets kicked off the week on a positive note—mirroring gains across Asia—as optimism grew that Washington might finally be close to ending the prolonged U.S. government shutdown.
The Sensex rose 319 points to close at 83,535, and the Nifty climbed 82 points to finish at 25,574.
The rally was led by IT heavyweights such as Infosys, HCL Tech, Bajaj Finance, Asian Paints, and Tata Motors, all up between 1% and 2.5%. The IT index itself gained 1.6%, topping the sectoral charts as investors bet on improving global sentiment.
In the broader market, midcaps and smallcaps also firmed up, rising 0.5% and 0.4%, respectively.
Among stock-specific moves, Nykaa was the star performer, jumping nearly 6% after its quarterly profit more than tripled on strong festive demand.
Meanwhile, Trent slumped over 7%, its sharpest single-day fall in months, after reporting its slowest revenue growth since 2021.
It was a mixed debut for Lenskart, the stock listed 3% below its issue price but recovered to close just above its IPO price by the end of trade.
Experts say optimism surrounding the US government reopening and fresh FII inflows, coupled with strong Q2 earnings, are lifting sentiment. Domestically, robust macro indicators are expected to support earnings upgrades in the coming quarters.
Globally, equity markets were higher across the board — Nasdaq, S&P 500, and European indices all gained as shutdown worries eased. Oil prices edged up, with Brent crude around $64 a barrel, while the rupee traded steady at 88.69 per dollar.
That’s all for today’s market wrap. This is Neha Vashishth, and you’ve been listening to ET Market Watch, your daily pulse on what’s moving the markets.