The SENSEX Index Closes 1.06% Higher

India’s BSE Sensex closed about 1.1% higher at 74,107 on Monday, recovering from a weak start and extending gains for a third straight session. Investors weighed a report saying that the US, Iran, and other mediators were discussing terms for a potential 45-day ceasefire, which helped to lift market sentiment. Meanwhile, a final PMI survey showed India’s services sector growth moderated to a 14-month low in March. All sectors saw gains, with financials leading the way following robust business updates from private lenders. On Saturday, major banks including Axis Bank (3.9%), Bajaj Finance (2.9%), and HDFC Bank (2.7%) posted robust loan growth for the March quarter. At the same time, retailer Trent surged 7.9% after reporting steady double-digit revenue growth with continued store expansion. On the flip side, Reliance Industries slipped 3.4%, emerging as one of the key laggards, after analysts flagged hit to refining margins after the government imposed export tax on diesel last week.

The SENSEX Index rose 776 points or 1.06 percent on Monday to close at 74095 points. Leading the gains are Axis Bank (3.73%), Titan Company (3.61%) and UltraTech Cement (3.29%).

India’s BSE Sensex fell around 0.2% to below 73,167 in early trade on Monday, reversing gains from the previous two sessions, as sentiment turned cautious amid escalating geopolitical tensions, particularly renewed threats from US President Trump toward Iran. Trump warned of severe consequences if the Strait of Hormuz is not reopened. On the upside, major banks such as HDFC, Kotak Mahindra, and Axis reported strong loan growth and deposits, which could help limit losses and support market stability. The Reserve Bank of India has also recently moved to curb currency volatility and ease liquidity stress by limiting speculative forex trades, managing liquidity, and signaling policy stability to boost investor confidence. On the macro front, HSBC Composite and Services PMI final data for March are due later in the day, with expectations of 56.5 and 57.4, respectively. Notable laggards were Latent View (-3.7%), Reliance Industries (-1.7%), Dixon Tech (-1.1%), and Bharti Airtel (-0.4%).