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The Indian stock market witnessed broad-based buying on Monday, August 4, which helped benchmark indices—the Sensex and the Nifty 50—snap their two-day losing streak amid largely positive global cues and weakness in the US dollar.

The Sensex rose 419 points, or 0.52 per cent, to end at 81,018.72, while the Nifty 50 settled at 24,722.75, up 157 points, or 0.64 per cent.

The mid and small-cap segments outperformed. The BSE Midcap index jumped 1.11 per cent, while the Smallcap index rose 0.76 per cent.

Widespread buying lifted the overall market capitalisation of firms listed on the BSE to nearly ₹449 lakh crore from ₹444.5 lakh crore in the previous session, making investors richer by about ₹4.5 lakh crore in a single session.

The domestic stock market rose, tracking positive global cues, as speculation about a potential US Fed rate cut in September gained momentum following weaker-than-expected US jobs data for July.

US nonfarm payrolls rose by 73,000 jobs in July, compared to a forecast of 1,10,000 jobs in a Reuters poll of economists.

The weak US jobs data has fuelled the prospects of the Federal Reserve cutting interest rates in September.

The weakness in the US dollar may have also contributed to the strong buying interest in the Indian stock market. The dollar index fell by over half a per cent, while the Indian rupee appreciated by a similar margin, boosting investor sentiment in domestic equities.

"A weakening US dollar, along with robust monthly auto sales and encouraging quarterly results from leading automakers, helped renew investor interest in these sectors," said Vinod Nair, Head of Research, Geojit Investments Limited.

"The Q1 earnings summary indicates that consumption-driven companies are benefiting from a rebound in volume demand. Meanwhile, rising unemployment and slower job creation in the US have reinforced expectations of a potential Fed rate cut. However, there still remains room for caution due to high US tariffs," Nair said.

As many as 43 stocks ended higher in the Nifty 50 index, with Hero MotoCorp (up 5.18 per cent), Tata Steel (up 4.08 per cent), and Adani Ports (up 3.56 per cent) ending as the top gainers.

Shares of Power Grid Corporation (down 1.12 per cent), HDFC Bank (down 0.88 per cent), and ONGC (down 0.70 per cent) were the top losers in the index.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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