FX.co ★ Sensex Opens Week Higher

India’s BSE Sensex rose about 0.6% to 74,738 on Monday, rebounding from the previous session’s losses as a pullback in oil prices lent support to the benchmark. Gains were tempered, however, by still-elevated crude prices and heavy IPO activity that constrained broader market momentum.

Oil remained a central focus for investors. Brent crude traded around $101.6 a barrel, down 2.2% from the prior session yet still at levels that could exacerbate India’s inflation pressures and strain the country’s trade balance.

Market participants were also monitoring a busy primary market. The approximately $2.3 billion initial public offering of the National Stock Exchange was set to close on Monday, intensifying competition for liquidity amid several other new listings. Meanwhile, fintech platform Moneyview is seeking a valuation of up to about 59.85 billion rupees ($624 million) in its upcoming IPO, scheduled to open on Sept. 24.

On the stock front, notable gainers included HDFC Bank (up 0.6%), Welspun (up 1.9%), Reliance (up 1.1%), and Jyoti CNC (up 4.2%).