Stock Market Rebounds as Global Rally Inspires Confidence

Equity benchmark indices saw a rebound on Monday amid global market rallies and gains in major companies like ITC and ICICI Bank. Despite Middle East tensions, a strong US economy and declining inflation buoy stock markets. BSE Sensex and NSE Nifty showed notable increases in early trading.

Equity benchmark indices made a comeback in early trading on Monday following a downturn last week, spurred by rallies in global markets and strong performances from ITC and ICICI Bank.

The BSE Sensex rose by 292.29 points or 0.36% to reach 81,980.74, and the NSE Nifty increased by 54.55 points or 0.22% to 25,069.15. Key gainers included ITC, Kotak Mahindra Bank, HCL Technologies, Infosys, ICICI Bank, Tata Consultancy Services, and Bharti Airtel, while Titan, Adani Ports, NTPC, Power Grid, and HDFC Bank lagged.

Despite escalating Middle East tensions, global stock markets remained resilient, buoyed by a strong US economy with robust September non-farm job numbers and declining inflation. Foreign Institutional Investors sold equities worth Rs 9,896.95 crore on Friday, whereas Domestic Institutional Investors purchased Rs 8,905.08 crore worth of equities, as per exchange data.

(With inputs from agencies.)