India’s benchmark index rose for a third straight week on Monday, while Asian stocks got off to a good start on expectations of a hawkish stance from major central banks and a pullback in oil prices.

The NSE Nifty50 added 164.25 points or 0.92% to 17,94760, and the Sensex added 591.12 points or 0.99% to 60,550.97, posting gains for the third straight session.

Gains for the month have risen more than 4% through Friday’s close, supported by strong corporate earnings and expectations the Federal Reserve will forego ultra-aggressive tightening.

While expectations of a rate hike have increased, expectations have grown for the Federal Reserve to become less hawkish, boosting risk assets globally.

A rebound in stocks in South Korea, Australia and Hong Kong helped MSCI’s index of Asia-Pacific shares outside Japan edge higher on Monday.

But the broader MSCI Asia index is expected to drop for the ninth month after Chinese stocks fell on lacklustre economic data. Japan’s Nikkei rose 1.5%.

That came after Wall Street rose on Friday, but bond and money markets have tempered some bets on the Fed changing its tone.

Oil prices fell on Monday on concerns that China’s expanded COVID-19 restrictions could reduce demand. India, the world’s third-largest oil importer, has benefited from lower costs due to lower imported inflation.

This week, investors will focus on the outcome of the Bank of England and Federal Reserve policy meetings and a surprise meeting from the Reserve Bank of India (RBI).

On November 3, the Reserve Bank of India is scheduled to hold its second off-cycle meeting to discuss how to deal with the government’s repeated failure to meet its inflation target.