Indian Markets Rebound as Brent Crude Falls Below $90

The Indian equity markets experienced a rebound on the monthly expiry date due to a decline in crude oil prices. Brent crude fell below $90 a barrel, leading to a drop of over 2%. As a result, the Nifty gained around 20 points and traded near 24,250, while the Sensex rose by 150 points to reach 77,500. The sectoral indices turned positive.

The fertilizer stocks surged up to 16% after Russian President Vladimir Putin assured India of uninterrupted fertilizer supplies. In contrast, sugar stocks faced profit-booking and fell up to 6% due to the government's relaxation of rules on duty-free raw sugar imports.