The SENSEX Index Closes 0.56% Higher

India’s BSE Sensex closed about 0.7% up at 72,382.5 on Monday, snapping a four-day losing streak, supported by easing oil prices and reduced concerns over a Fed rate hike at its October meeting. Meanwhile, foreign fund outflows continued, and investors braced for the upcoming RBI's policy outcome later this week. FMCG, energy, financials and select banking stocks saw increased buying. ITC was the top performer, climbing 4.5%, after Citigroup double-upgraded the stock to "buy" from sell". Bajaj Finance gained 2.3% after posting an 11% annual growth in new loans in the September quarter. Eternal, Bharti Airtel, Adani Ports, ICICI Bank, Reliance, L&T and NTPC also advanced solidly, rising between 1.5%-2.5%. On the downside, HCL Tech dropped 3.7% to the bottom of the index, with HDFC Bank and Sun Pharma also falling 2% and 1.6%, respectively.

The SENSEX Index rose 403 points or 0.56 percent on Monday to close at 72312 points. Leading the gains are ITC (4.79%), Tata Motors (3.11%) and Eternal Limited (2.50%). Top losers were HCL Tech (-3.47%), HDFC Bank (-2.23%) and Asian Paints (-2.16%).

India’s BSE Sensex rose about 0.9% to 72,546 on Monday, rebounding from four straight sessions of losses as easing oil prices and fading expectations of a US Federal Reserve rate hike lifted sentiment despite continued foreign outflows. The index posted its eighth consecutive weekly decline last week, its longest losing streak in 25 years. Weaker-than-expected US employment data further reduced expectations of an October Fed hike, with markets pricing in a 22% chance versus 64% a week earlier. Financial stocks led gains, rising about 1.1%, with HDFC Bank up 1% after appointing Anup Bagchi as CEO for a three-year term and Bajaj Finance jumping 3.6% after reporting an 11% year-on-year increase in new loans booked in the second quarter. Tata Motors gained 0.7% after JLR reported a 25.5% year-on-year rise in wholesale volumes despite a 7.5% drop in retail sales. Meanwhile, Avenue Supermarts fell 0.7% despite an 18.4% increase in standalone revenue in the September quarter.