India Stocks Rise to 4-Month Highs
Indian stocks experienced a significant surge on Monday morning, with shares climbing 795 points, or 1.0%, to reach 79,344. This upward trajectory was driven by robust performances in sectors such as technology, metals, financial services, automotive, as well as both public sector and private banking institutions. The BSE Sensex climbed for the fifth consecutive session, achieving its highest mark in four months, as trading resumed post-Easter holiday. Increased optimism was attributed to the delay of certain tariffs, recent exemptions on specific products, and the prospect of favorable US-India trade discussions, which are expected to alleviate pressures on the Indian economy. Furthermore, the fourth-quarter earnings season continued, with 16 companies, including Mahindra Logistics and Tata Investment, poised to report their financial results today. The Nifty 50 also marked a 1.0% increase, approaching 24,100 points, with IndusInd Bank soaring 5.6%, Tech Mahindra climbing 3.9%, and both State Bank of India and Axis Bank each gaining 2.9%. ICICI Bank's shares rose 0.7% following the announcement of an 18% year-on-year increase in its net profit for the fourth quarter of FY25. Meanwhile, HDFC Bank's shares increased by 1.0% after the bank reported a 7% year-on-year rise in its Q4 FY25 net profit.
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