Indian Markets Bounce Back as Crude Prices Plummet

The Indian stock markets rebounded sharply on Monday as crude oil prices dropped and tensions in West Asia eased. The Sensex jumped 566 points to 76,608.66 while the Nifty surged 153.60 points to 23,923.30.

Rajesh Palviya, Head of Research at Axis Direct, attributed the market's improvement to the pause in military action between the US and Iran, which eased fears of an immediate supply disruption. Brent crude prices tanked 4% lower at $92.84 per barrel.

Major gainers from the Sensex pack included InterGlobe Aviation, Infosys, Eternal, Asian Paints, Bajaj Finance, and Bajaj Finserv. Bharti Airtel and ICICI Bank were the laggards. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,892.77 crore on Friday.