Indian Equity Markets Rise on Easing Crude Oil Prices

Indian equity markets started the week on a positive note due to easing crude oil prices. The domestic benchmark indices, Sensex and Nifty, opened higher on Monday, with the former rising 549.21 points or 0.72 per cent to 76,608.98 and the latter gaining 160.95 points or 0.68 per cent to 23,928.40.

All sectoral indices traded in positive territory during the opening session. The Nifty MidSmall Financial Services index emerged as the top gainer, rising 1.29 per cent, followed by Nifty IT, which advanced 1.25 per cent. Nifty Media gained 1.06 per cent, while Nifty FMCG rose 1 per cent.

The sharp decline in Brent crude prices from $102 four days ago to around $93 on Monday morning has been cited as a key positive for market sentiment. Market experts believe that if the de-escalation of the West Asia conflict holds and crude price drifts lower, it can sustain a mild rally in the market.