Sensex Surges Past Key Level as Weaker US Data Boosts Sentiment

Indian stocks rose sharply, with Sensex and Nifty indices gaining following weaker-than-expected US labor data, hinting at a more accommodative US Federal Reserve. Easing crude prices and positive financial sector performance in India also buoyed markets, while IT and commodity sectors saw notable gains.

In a robust start to Friday's trading, Indian benchmark indices soared, driven by supportive global cues and weaker-than-expected US labor market data. The Sensex jumped over 500 points, while the Nifty crossed 24,300, buoyed by expectations of a more accommodating US Federal Reserve and declining crude oil prices.

Global sentiment shifted substantially after US jobs data revealed the addition of just 57,000 positions, well below market forecasts. This development has reinforced hopes of easing monetary policy, especially as domestic financials show strong operational health, according to market expert Ajay Bagga.

Key sectors, including IT and commodities, maintained positive momentum. Notably, Nifty IT rose over 2% in its second consecutive session of gains. Meanwhile, subdued oil prices near USD 72 per barrel are lending support to emerging markets, boosting India's trade dynamics as a major crude importer.