Commodities
Indian Stock Market Rallies on Crude Price Drop and Easing Geopolitical Tensions
The Indian stock market indices Sensex and Nifty surged in early deals on Monday due to a sharp decline in crude oil prices amid easing geopolitical tensions.
Foreign fund inflows also contributed to the markets' optimism during initial trade. The 30-share BSE Sensex jumped 470.06 points to 78,564.70, while the 50-share NSE Nifty climbed 150 points to 24,532.95.
The Sensex pack saw significant gains from ITC, Bajaj Finserv, InterGlobe Aviation, Bajaj Finance, Tata Consultancy Services, and Infosys. However, Sun Pharma and Maruti lagged behind.
Brent crude, the global oil benchmark, traded 4.97% lower at USD 83.56 per barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 277.48 crore on Friday, according to exchange data.