FX.co ★ Sensex Rises Further to Open the Week

The BSE Sensex climbed 472 points, or 0.6%, to reach 85,401 in early trading on Monday, building on gains from the previous session. Every sector showed positive movement, with technology stocks leading the charge. This upward trend was supported by renewed capital inflows, spurred by a recovery in the rupee's value. On Friday, foreign portfolio investors made net purchases of Indian shares totaling INR 18.31 billion. Market sentiment was further uplifted by the disclosure of the Reserve Bank of India's meeting minutes, which hinted at the possibility of economic growth deceleration next year combined with a backdrop of low inflation. Such conditions may create opportunities for further reductions in interest rates. Additionally, positive momentum from Wall Street on Friday buoyed market spirits, fueled by significant gains in tech stocks. The technology sector witnessed a 1.4% increase following a robust rise in US-traded shares post-India market hours on Friday, with Infosys advancing 2.1% and Tech Mahindra 1.6%. Other noteworthy gainers included Bharti Airtel at 2.0%, Tata Motors at 1.7%, and Tata Steel at 1.4%.