Indian equities rose in early trade on Monday, tracking gains across Asian markets, as optimism grew that the historic US government shutdown may soon end. Positive corporate earnings also lifted market sentiment.
The Nifty 50 was up 0.32% at 25,573.95, while the BSE Sensex gained 0.31% to 83,472.41. Broader Asian markets climbed around 1% after the US Senate advanced a government funding bill to end the 40-day shutdown, moving it closer to final approval.
Analysts said a resolution to the political stalemate in the US could spark a short-term rally in global markets. Improving quarterly results have also prompted analysts to raise corporate profit estimates for the coming quarters, strengthening overall risk appetite.
On the day, 14 of the 16 major sectoral indices advanced. The broader midcap and small-cap indices gained about 0.5% each.
Among key movers, Hindustan Aeronautics Ltd (HAL) advanced 2.3% after the state-run defence manufacturer inked a deal with General Electric (GE) to purchase 113 engines for the next-generation version of its indigenous Tejas fighter jets.
Lupin climbed 2.2%, building on gains from the previous session, after the pharmaceutical firm posted a 73% surge in quarterly profit, supported by strong sales of respiratory medicines.
Nykaa rose 4.2% as the beauty retailer’s profit for the quarter more than tripled, driven by robust demand for skincare and cosmetics and new partnerships with global brands.
On the weaker side, Ola Electric dropped 2.2% after Moody’s Investors Service downgraded its rating, warning of potential repayment risks due to declining cash reserves.
Lenskart Solutions made a subdued market debut, listing 1.7% below its issue price of ₹402 amid investor caution over its steep valuation.
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