Indian Stock Markets Surge as Crude Oil Prices Plummet

Stock markets in India rebounded on Monday following a sharp decline in crude oil prices. The BSE Sensex jumped 566 points to 76,608.66 in early trade, while the Nifty surged 153.60 points to 23,923.30.

The drop in Brent crude prices from $102 four days ago to around $93 this morning is a positive sentiment for the market. According to Rajesh Palviya, Head of Research at Axis Direct, 'Market sentiment has improved meaningfully over the weekend after the US and Iran paused military action, easing fears of an immediate supply disruption.'

Brent crude, the global oil benchmark, tanked 4% lower at $92.84 per barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,892.77 crore on Friday, according to exchange data.