The SENSEX Index Closes 0.76% Higher

India’s BSE Sensex closed about 0.8% firmer at 74,894.9 on Monday, halting a two-day losing streak, buoyed by a significant drop in global crude oil prices and the return of foreign fund inflows. Meanwhile, investors remained hopeful that this week’s UN General Assembly could bring diplomatic progress toward a resolution to the Iran conflict, while a partial recovery in oil shipments from Saudi Arabia eased inflation concerns. Market participants also continued to monitor intense IPO activity ahead of the NSE’s listing on September 24. Among single stocks, UltraTech Cement, HCL Tech, Eternal, Titan, ITC and Tech Mahindra posted the biggest gains, rising between 1.8%-4.1%. On the downside, Bharti Airtel (-1.9%), Power Grid (-1.2%) and Infosys (-1%) were the laggards. Tata Steel fell 0.6% as Tata Group stocks remained under pressure amid escalating tensions between Tata Trusts and Tata Sons over the conglomerate’s leadership and future structure.

The SENSEX Index rose 564 points or 0.76 percent on Monday to close at 74859 points. Leading the gains are HCL Tech (2.54%), Sun Pharmaceuticals (2.05%) and ITC (1.96%). Top losers were Bharti Airtel (-3.27%), Adani Ports (-1.95%) and Bajaj Finance (-1.50%).

India’s BSE Sensex rose about 0.6% to 74,738 on Monday, rebounding from losses in the previous session as easing oil prices provided support to the benchmark, although crude prices remained elevated and heavy IPO activity capped broader gains. Oil prices remained a key focus for investors, with Brent crude trading around $101.6 a barrel after falling 2.2% in the previous session, but remaining at levels that could add to India’s inflation pressures and weigh on the country’s trade balance. Investors were also tracking the impact of a busy primary market. The roughly $2.3 billion IPO of the National Stock Exchange was due to close on Monday, adding to competition for liquidity alongside several other new share offerings. Meanwhile, fintech platform Moneyview is targeting a valuation of up to about 59.85 billion rupees ($624 million) in its upcoming IPO, which is scheduled to open on Sept. 24. Among stocks, HDFC Bank (0.6%), Welspun (1.9%), Reliance (1.1%), and Jyoti CNC (4.2%) gained.