Indian Stock Market Surges as Crude Oil Prices Decline
The Indian stock market started the day on a positive note, with both Sensex and Nifty indices climbing in early trade. The 30-share BSE Sensex rose by 397.59 points to 78,826.54, while the 50-share NSE Nifty went up by 62.7 points to 24,677.60.
The gains were led by InterGlobe Aviation, Mahindra & Mahindra, Trent, NTPC, Larsen & Toubro, and Bajaj Finserv, which were among the major winners in the Sensex pack. On the other hand, Sun Pharma, Tata Consultancy Services, Titan, and Bharat Electronics were among the laggards.
The decline in crude oil prices, particularly Brent crude, which traded 1.16% lower at $78.44 per barrel, was seen as a positive factor for the market. Foreign Institutional Investors (FIIs) bought equities worth ₹2,446.47 crore on Tuesday, according to exchange data.
Market analysts expect the RBI's monetary policy decision to be closely watched today, with expectations of a rate hike or no change in rates being discussed.