FX.co ★ India Equities Rise to Near 5-Month High

On Monday, the Indian stock market experienced a significant surge, with the Sensex climbing by 1,922 points, or 2.4%, to reach 81,377 in early trading. This marked a rebound after losses in the preceding sessions, pushing the index to its highest level in nearly five months. This uptick followed a truce between India and Pakistan over the weekend after four days of cross-border firing. The BSE Sensex mirrored the gains seen in Asian counterparts and U.S. stock futures, spurred by notable progress in U.S.-China trade discussions reported on Sunday. Market participants awaited further information from these negotiations, anticipated to be released on Monday. Almost all sectors showed positive movement, with financials leading the charge, and small- and mid-cap stocks witnessing a more than 3% rise. The Nifty 50 also experienced a 2.4% increase, surpassing the 24,500-mark. Key contributors to this rise included Adani Ports with a 4.6% gain, Bajaj Finance at 3.7%, Bajaj Finserv at 3.6%, Axis Bank at 3.6%, and Power Grid at 3.4%. In contrast, Sun Pharmaceutical Industries saw a decline of 4.7%, following President Trump's announcement regarding potential drug price cuts of up to 80%.