Indian shares rose notably on Monday after a mixed U.S. jobs report helped ease investor concerns over an earlier-than-expected rate hike by the Federal Reserve.
Data on Friday showed U.S. companies hired the most workers in 10 months in June.
However, unemployment ticked higher, the labor force participation remained unchanged and the pace of hourly earnings growth slowed, helping ease fears about the timing of U.S. interest rate hikes.
Investors may get a deeper glimpse at the Fed’s views on inflation when the minutes from the recent FOMC meeting will be released on Wednesday.
Declining COVID-19 cases in the country and hopes for strong corporate earnings also underpinned sentiment.
The benchmark 30-share BSE Sensex jumped 395.33 points, or 0.75 percent, to close at 52,880, while the broader NSE Nifty index ended the session up 112.15 points, or 0.71 percent, at 15,834.35.
The rupee settled 43 paise higher at 74.31 (provisional) against the greenback, snapping its four-day losing streak.
Metal stocks led the gainers, with Hindalco rising 3.8 percent while Tata Steel and Coal India gained around 2 percent each. SBI and ONGC also rose about 2 percent.
Among the decliners, HDFC Life and Tech Mahindra fell 1.4 percent and 1.6 percent, respectively.
Sensex Ends At 52,880; Nifty Tops 15,800
2021-07-05 10:39:54
