Indian Equities Surge as Crude Oil Prices Ease

The Indian equity markets opened higher on Monday due to easing crude oil prices. The Sensex rose by 549.21 points or 0.72 percent to start the session at 76,608.98, while the Nifty gained 160.95 points or 0.68 percent to trade at 23,928.40.

All sectoral indices were in positive territory during the opening session. The Nifty MidSmall Financial Services index emerged as the top gainer, rising by 1.29 percent, followed by Nifty IT, which advanced 1.25 percent. The sharp decline in Brent crude prices from $102 four days ago to around $93 on Monday morning is a key positive for market sentiment.

According to market experts, if the de-escalation of the West Asia conflict holds and crude price drifts lower, it can sustain a mild rally in the market. The correction in global chip stocks and concerns surrounding the artificial intelligence (AI) trade could also revive foreign portfolio investor interest in Indian equities.