While the S&P BSE Sensex settled at 82,176.45, up by 455 points or 0.56%, the broader Nifty closed at 25,001, higher by 148 points or 0.6%.
Meanwhile, the market capitalization of all the BSE-listed companies increased by Rs 1.98 lakh crore.
Gainers & losers
Among individual stocks, the shares of BEML rose the most, by 11.5%, followed by Shilpa Medicare shares, which surged by 13%. Lloyds Enterprises shares gained 11.35%.
Within the Nifty 50 universe, 38 stocks advanced, while 12 declined, with Bajaj Auto, JSW Steel and M&M emerging as the top gainers and Eternal, UltraTech Cement and Kotak Mahindra Bank were the top losers.
Sectoral action
All the key sectoral indices ended up in the green today, with the Nifty Auto index taking the lead after it ended 1.14% higher. Nifty IT index rose by 1.03% while the Nifty Metal index gained 1%. Nifty FMCG was also up by 0.99%.
Global Markets
Japan’s Nikkei closed 1% higher at 37,531.53, its sharpest one-day advance in almost two weeks as easing trade tensions between the United States and the European Union supported risk appetite. In Hong Kong, the benchmark Hang Seng Index was down 1.4% at 23,282.33, while at the close, the Shanghai Composite index weakened 0.1% to 3,346.84. The blue-chip CSI300 index dropped 0.6%.
U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. The pan-European STOXX 600 index was up by 1% after the U.S. deadline was pushed back.
Meanwhile, the US markets are closed on Monday on account of Memorial Day.
Forex
The Indian rupee commenced the week favourably, bolstered by an appetite for risk and a subdued US dollar. The greenback continued to face downward pressure, stemming from escalating trade concerns, elevated bond yields, and mixed economic indicators.
In the absence of significant international catalysts, the rupee largely mirrored the US dollar’s movements, confined to a tight trading band amid the US and UK holidays.
“Looking ahead, the spot USDINR pair is anticipated to fluctuate between 84.60 and 85.30 in the near term,” said Dilip Parmar, Senior Research Analyst at HDFC Securities.
The INR closed modestly stronger after hitting a two-week high on Monday as a turnaround in the dollar index weighed on regional peers like the Chinese yuan, which touched a seven-month peak earlier in the day.
Crude oil
Oil prices rose on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hit fuel demand.
Brent crude futures rose 39 cents, or 0.6%, to $65.17 a barrel while U.S. West Texas Intermediate crude was up 33 cents, or 0.5%, at $61.86 a barrel.
(With inputs from agencies)
