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The market is expected to open higher on Monday after a sharp fall last week and amid gains in global equities. Asian stocks rose after stronger-than-expected US jobs data underscored the health of the world’s largest economy and boosted optimism over a soft landing. US stocks ended Friday close to session highs after a stronger-than-expected jobs report underscored the resilience of the US economy and boosted soft-landing hopes. Treasuries sank as traders recalibrated their bets on the size of the Federal Reserve’s next rate cut. Amid escalating tension in the Middle East due to the Israel-Iran war, oil stocks in India came under selling pressure on the weekend sessions.

As per provisional figures, Foreign Institutional Investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs.9896.95 crore and Domestic institutional investors bought shares worth net Rs.8905.08 crore on 4th October 2024.

Asian stocks climbed, and the dollar strengthened against the yen on Monday. This followed strong U.S. job growth data, which eased recession concerns and reduced expectations for interest rate cuts. Short-term U.S. Treasury yields rose after the non-farm payrolls report showed more jobs added than expected in September. Crude oil prices declined slightly despite ongoing tensions in the Middle East.

U.S. stocks rallied on Friday after the positive job report boosted investor confidence in the economy. The S&P 500 rose 0.9%, while the Nasdaq Composite jumped 1.22%. The Dow Jones Industrial Average added 0.81%, to notch an all-time closing high of 42,352.75. Technology stocks like Tesla, Amazon, and Netflix led the gains, while financial stocks also performed well.

Data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%. 

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