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Indian shares began the financial year 2025 on a buoyant note Monday as softer U.S. inflation data bolstered hopes that the Federal Reserve would deliver its first interest rate cut of the year in June.<\/p>\n
According to the CME Group’s FedWatch Tool, traders are currently pricing in a 69 percent probability that the U.S. central bank would begin cutting rates in June.<\/p>\n
The RBI’s upcoming MPC meeting was also in focus, with economists expecting the Indian central bank to keep interest rates unchanged. <\/p>\n
The benchmark S&P BSE Sensex rose 363.20 points, or 0.49 percent, to 74,014.55 while the broader NSE Nifty index ended up 135.10 points, or 0.61 percent, at 22,462.<\/p>\n
Metal stocks surged, with Tata Steel and JSW Steel climbing 4-5 percent.<\/p>\n
Among other prominent gainers, Adani Ports, Shriram Finance and Divis Laboratories climbed 3-4 percent. <\/p>\n
HDFC Bank rose 1.5 percent after the private sector bank executed a binding term sheet for the sale of 100 percent equity held by the lender in HDFC Education and Development Services Private Limited.<\/p>\n
PNB Housing Finance soared 20 percent as Morgan Stanley upgraded its rating on the stock to ‘overweight’.<\/p>\n
Eicher Motors dropped 1.7 percent after reporting a drop in commercial vehicle sales in March. <\/p>\n
LTIMindTree, Nestle India and Titan Company all fell around 1 percent. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n