Indian markets hit 10-week highs, Nifty closes 24,430 Sensex 78,285
Indian stock markets had a strong Monday, with both Nifty and Sensex hitting their highest levels in 10 weeks: Nifty closed at 24,430 and Sensex at 78,285.
This jump (up 2.4% over just four sessions) was powered by falling oil prices, easing tensions in West Asia, better rainfall news, and renewed interest from foreign investors.
HDFC Bank leads Nifty gains
HDFC Bank led the charge with its shares rising 3.6% after reporting solid loan growth for the June quarter, contributing over half of Nifty's gains.
Other private banks like IndusInd Bank and Bandhan Bank also saw notable increases.
However, state-owned banks slipped for a third straight session, and Kotak Mahindra Bank fell due to slower growth.
Despite these mixed results in banking, overall market vibes stayed positive thanks to global factors working in India's favor.