Indian Benchmark Indices Recover After Subdued Start Amid Easing Oil Prices

The Indian benchmark indices opened on a subdued note on July 28 before recovering in early trade. The recovery was supported by easing crude oil prices, but weak cues from most Asian markets kept investor sentiment cautious.

The BSE Sensex opened 34.69 points lower at 76,801.09, while the NSE Nifty 50 slipped 3.55 points to 23,992.40 before both benchmark indices edged into positive territory in early trade. Brent crude fell 0.84 per cent to USD 87.20 per barrel.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said several positive factors could help sustain the ongoing market recovery, though intermittent bouts of profit booking and corrections are likely.