Indian Markets Recover as Oil Prices Ease Below $88

The Indian stock market started on a flat note but quickly recovered in early trade as Brent crude slipped below $88 per barrel, easing oil prices and supporting sentiment.

Brent crude fell by 0.84% to $87.20 per barrel, while WTI crude declined by 0.63% to $81.51 per barrel. Gold prices also eased by 0.59% to $4,048.75.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said several positive factors could help sustain the ongoing market recovery, although intermittent bouts of profit booking and corrections are likely.

Vijayakumar highlighted the sharp correction in Brent crude prices as a major positive for both market fundamentals and investor sentiment. He also pointed to improving monsoon conditions and robust credit growth as supportive factors.