Sensex Rises 363 Points; Nifty Closes At 22,462
(RTTNews) - Indian shares began the financial year 2025 on a buoyant note Monday as softer U.S. inflation data bolstered hopes that the Federal Reserve would deliver its first interest rate cut of the year in June.
According to the CME Group's FedWatch Tool, traders are currently pricing in a 69 percent probability that the U.S. central bank would begin cutting rates in June.
The RBI's upcoming MPC meeting was also in focus, with economists expecting the Indian central bank to keep interest rates unchanged.
The benchmark S&P BSE Sensex rose 363.20 points, or 0.49 percent, to 74,014.55 while the broader NSE Nifty index ended up 135.10 points, or 0.61 percent, at 22,462.
Metal stocks surged, with Tata Steel and JSW Steel climbing 4-5 percent.
Among other prominent gainers, Adani Ports, Shriram Finance and Divis Laboratories climbed 3-4 percent.
HDFC Bank rose 1.5 percent after the private sector bank executed a binding term sheet for the sale of 100 percent equity held by the lender in HDFC Education and Development Services Private Limited.
PNB Housing Finance soared 20 percent as Morgan Stanley upgraded its rating on the stock to 'overweight'.
Eicher Motors dropped 1.7 percent after reporting a drop in commercial vehicle sales in March.
LTIMindTree, Nestle India and Titan Company all fell around 1 percent.
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