Indian Shares Extend Gains For Fourth Day

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Summary · why it matters

Indian shares rose notably on Monday, with benchmark indexes Sensex and Nifty extending gains for a fourth consecutive session. The BSE Sensex surged 521.16 points, or 0.67 percent, to 78,285.07, while the NSE Nifty index settled 159.50 points, or 0.66 percent, higher at 24,430.35. Gains were driven by falling crude prices after OPEC+ decided to raise output, eased concerns over near-term Federal Reserve rate hikes, optimism for corporate earnings, and strong provisional June quarter business growth updates from banks. Among prominent gainers, ICICI Bank, Reliance Industries, BEL, Mahindra & Mahindra and HDFC Bank rose 1-3 percent, while Kotak Mahindra Bank tumbled nearly 4 percent after reporting slower sequential growth in loans and deposits. IT stocks were subdued, with TCS falling 1.7 percent on fears of another subdued quarter due to AI-driven pricing pressure and weak client spending.

Impact on stocks 4

Financials▲ · 2 stocks
ICICI Bank Limited
IBN
▲ PositiveDemandrelevance

Strong provisional June quarter business growth updates from banks, including ICICI Bank.

Energy Transition & Power Demand▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
Mahindra & Mahindra Limited
MHID
▲ PositiveDemandrelevance

Gains driven by falling crude prices and optimism for corporate earnings; Mahindra & Mahindra rose 1-3%.

Off-coverage companies 1

Bharat Electronics LimitedPrivate▲ Positive
Demandrelevance

Gains driven by falling crude prices and optimism for corporate earnings; BEL rose 1-3%.

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