The Indian stock market moved higher on Monday, with Sensex rising by 400 points and Nifty crossing 22,500. This was driven by gains in financial stocks and positive signals from Asian markets after China announced new steps to boost consumer spending.

Key Market Highlights:

✅ Banks & Pharma Stocks Rally: Financial stocks gained 0.5%, with IndusInd Bank jumping 3.5% after the RBI reassured investors about its stability. Pharma stocks also performed well.
✅ Gold & Silver: Gold saw some profit-booking, while silver stayed above ₹1 lakh/kg.
✅ Mobikwik & Ola Electric: Mobikwik shares fell 15% after its IPO lock-in period ended. Ola Electric’s stock dropped 4% due to legal troubles faced by its subsidiary.
✅ IndusInd Bank: Shares surged over 5% after RBI’s positive statement.

Global Market Overview:

🔹 China’s Economy Boost: Asian stocks rose as China reported strong consumer spending.
🔹 U.S. Market Reaction: U.S. stock futures dipped 0.5% as Treasury Secretary Scott Bessent called the recent market drop a “healthy correction.”
🔹 Major Asian Market Gains:

• Japan: Nikkei 225 up 1.2%, Topix up 1.4%
• Australia: S&P/ASX 200 up 0.7%
• Hong Kong: Hang Seng up 1.3%
• China: Shanghai Composite up 0.3%
• Europe: Euro Stoxx 50 futures up 0.2%

In summary, the Indian market is performing well today, supported by banking and pharma stocks, while global markets are reacting positively to China’s economic data.

Source: The Economic Times