Indian Stocks Soar on Crude Price Crash, Foreign Fund Inflows

The Indian stock market started the week on a high note, driven by foreign fund inflows and a crash in crude oil prices.

The BSE Sensex jumped 470.06 points to 78,564.70 during initial trade, while the Nifty climbed 150 points to 24,532.95.

Major winners from the Sensex pack included ITC, Bajaj Finserv, InterGlobe Aviation, Bajaj Finance, Tata Consultancy Services, and Infosys.

The decline in Brent crude to below USD 83.56 per barrel, a 4.97% drop, was seen as a positive trigger for the market, along with good progress in monsoon in July and Foreign Institutional Investors (FIIs) turning buyers.