Indian Stock Indices Rebound as US Jobs Data Eases
Indian benchmark indices snapped a four-day losing streak on Monday, driven by softer US jobs data and the appointment of a new HDFC Bank CEO.
The BSE Sensex and NSE Nifty rebounded on Monday, October 5, 2026, ending a four-day losing streak. The Sensex climbed 472.77 points to settle at 72,382.47, while the Nifty rose 133.80 points to close at 22,555.75. This recovery was fueled by softer-than-expected U.S. jobs data and a moderation in Brent crude oil prices, which reduced expectations that the U.S. Federal Reserve would aggressively tighten monetary policy.
Sectoral performance was mixed, with consumer durables and FMCG leading the rally. Major gainers included ITC, Bharti Airtel, Bajaj Finance, and Tata Motors Passenger Vehicles. Conversely, healthcare and pharma indices were the weakest performers, and HDFC Bank and Infosys lagged. Despite the gains, market participants remain cautious as the Rupee traded weak near 96.30 ahead of a Reserve Bank of India policy decision scheduled for Wednesday.
In corporate developments, the Reserve Bank of India cleared Anup Bagchi to become the next managing director and CEO of HDFC Bank. Bagchi, formerly of ICICI Bank, will begin a three-year term on October 27. He succeeds Sashidhar Jagdishan, whose tenure was marked by allegations of unethical conduct and questionable governance. Similar positive trends were observed in global markets, including a gain of over 2% for Japan's Nikkei 225.
