Indian Markets Rebound as Oil Prices Slip Below $88

Indian markets experienced a flat start on July 28 before recovering in early trade due to easing oil prices. The BSE Sensex opened 34.69 points lower at 76,801.09, while the NSE Nifty 50 slipped 3.55 points to 23,992.40.

However, weak cues from most Asian markets kept investor sentiment cautious. Brent crude fell 0.84 per cent to USD 87.20 per barrel, dropping below the USD 88 mark, while WTI crude declined 0.63 per cent to USD 81.51 per barrel.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, pointed out several positive factors that could sustain the ongoing market recovery. He noted that the sharp correction in Brent crude prices is a major positive for both market fundamentals and investor sentiment.