Indian Markets Soar as Oil Prices Cool and Foreign Funds Return
Indian stock markets, including the Sensex and Nifty, experienced a significant upward trend in early trading on Monday. A key factor contributing to this rise was the drop in global crude oil prices, which fell by 2.25% to $101.5 per barrel. Additionally, foreign fund inflows also bolstered market sentiment as Foreign Institutional Investors (FIIs) bought equities worth Rs 599.54 crore on Friday.
The Sensex and Nifty benchmark indices climbed in early trade, with the Sensex jumping 448.32 points to 74,743.28, while the Nifty was up 50.3 points to 23,396.70. Among the major gainers were UltraTech Cement, InterGlobe Aviation, and Asian Paints, while Infosys and Adani Ports were among the laggards.
The positive trend in global markets also contributed to the Indian equities' rise. The US market ended mostly higher on Friday, and other Asian markets such as South Korea's Kospi and Hong Kong's Hang Seng index were trading in positive territory.