Indian Equities Extend Recovery Amid Elevated Crude Prices

The Indian equity benchmarks opened higher for a second straight session on August 21, extending their recovery from recent losses. Despite elevated crude oil prices, realty, metal, and pharmaceutical stocks led the gains.

Sensex started the day by jumping 163.35 points or 0.21 per cent to 77,701.07, while Nifty opened 52.20 points or 0.22 per cent higher at 24,284.05. The sectoral performance was mixed, with Nifty Realty rising 0.7 per cent and Nifty Metal gaining 0.48 per cent.

However, the rally may struggle to sustain due to rising crude prices and higher US bond yields. Analysts warned that Brent crude approaching $94 per barrel and renewed pressure from US yields could weigh on large-cap stocks and trigger profit booking.