Indian Equity Markets Open Higher Amid Crude Oil Price Drop

Mumbai's equity markets opened higher on Monday following two consecutive weeks of losses. The decline in crude oil prices contributed to this positive start.

The Nifty index began trading at 24,285.05, a 33.05-point gain or 0.14% increase from the previous day. Meanwhile, the Sensex started at 77,629.56, up by 88.73 points or 0.11%.

Metal stocks led sectoral gains with the Nifty Metal index rising nearly 1%. The Nifty Media and Oil & Gas indices also saw positive growth, increasing 0.72% and 0.59%, respectively. In contrast, healthcare and pharma sectors fell by 0.5%, while consumer durables, realty, and FMCG shares declined.

Analysts predicted that the Nifty could remain range-bound between 24,200 and 24,600 in the near term due to elevated crude oil prices and geopolitical risks. However, strong investor activity in companies with robust results and favourable forward guidance is expected to continue.