Indian Stock Market Set to Open Sharply Higher Amid Oil Price Decline

The Indian stock market is set to open sharply higher on Monday following a decline in crude oil prices and sustained foreign fund inflows. The GIFT Nifty jumped over 150 points, signaling a strong gap-up start for Sensex and Nifty.

Oil prices fell after US President Donald Trump said talks with Iran would take place on Monday, raising hopes of a diplomatic breakthrough and easing fears of prolonged disruptions to energy supplies. Brent crude futures dropped as much as 7.3 percent to $81.55 a barrel, while US West Texas Intermediate crude declined by 5.4 percent to $80.10 a barrel.

Foreign institutional investors (FIIs) continued their buying spree for the fourth consecutive session on Friday, purchasing Indian equities worth Rs 277 crore. Domestic institutional investors also supported the market, buying shares worth Rs 2,260 crore.