Commodities
India Markets Recover on Lower Oil Prices
Indian markets opened subdued on Tuesday before recovering in early trade due to easing crude oil prices.
The BSE Sensex opened lower at 76,801.09, while the NSE Nifty 50 slipped to 23,992.40 before both benchmark indices edged into positive territory.
Brent crude fell 0.84% to USD 87.20 per barrel, dropping below the USD 88 mark, which is a major positive for market fundamentals and investor sentiment, according to VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
The improving monsoon, with the rainfall deficit narrowing to 15.4%, and the robust credit growth of around 18% are also supporting factors for the Indian economy, Vijayakumar said.