Indian Markets Rise on Falling Oil Prices and Foreign Fund Inflows

Stock market benchmark indices Sensex and Nifty rose in early trade on Wednesday, driven by declining crude oil prices and foreign fund inflows. The 30-share BSE Sensex climbed 397.59 points to 78,826.54, while the 50-share NSE Nifty went up by 62.7 points to 24,677.60.

From the Sensex pack, InterGlobe Aviation, Mahindra & Mahindra, Trent, NTPC, Larsen & Toubro and Bajaj Finserv were among the major winners. Sun Pharma, Tata Consultancy Services, Titan and Bharat Electronics were among the laggards.

Brent crude traded 1.16 per cent lower at $78.44 per barrel on Wednesday. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,446.47 crore on Tuesday.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the sharp dip in Brent crude to below $80 and record closing in US markets augur well for the Indian market today. He noted that growth resilience in the economy, improving corporate earnings growth and FIIs turning buyers for the sixth day in a row are positives from the market perspective.

Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, said domestic sentiment has improved as foreign portfolio investors continue to rebuild positions in Indian equities following a prolonged period of outflows. He noted that recent recovery in the rupee, supported by softer crude oil prices and improving global risk sentiment, has enhanced the appeal of Indian financial assets.