Indian Markets Rebound Amid Easing Oil Prices and Hopes for De-Escalation
Indian stock markets rebounded on Wednesday, September 23, after a decline the previous day. The benchmark indices Sensex and Nifty gained ground amid easing crude oil prices and hopes of de-escalation in the West Asia conflict.
The 30-share BSE Sensex climbed 299.17 points to settle at 74,828.25, while the 50-share NSE Nifty rose 117.80 points to end at 23,446.80. Among the Sensex firms, Tata Steel, Bajaj Finance, ITC, UltraTech Cement, Power Grid, and Larsen & Toubro were the major winners.
HCLTech, Infosys, Tata Consultancy Services, Titan, and Mahindra & Mahindra lagged behind. Brent crude, the global oil benchmark, edged up 0.35% to $99.60 per barrel.
Analysts attributed the market's positive performance to a more constructive geopolitical backdrop, softer oil prices, and stronger domestic growth expectations. The Asian Development Bank raised its FY27 GDP growth forecast for India to 7%, reinforcing confidence in the economy's underlying growth momentum.