Indian Stocks Surge as Crude Oil Prices Drop Amid Eased Tensions
India's stock market rebounded on Monday as crude oil prices plummeted following eased tensions in West Asia.
The Sensex benchmark jumped 566 points to 76,608.66, while the Nifty index surged 153.60 points to 23,923.30.
Rajesh Palviya, Head of Research at Axis Direct, attributed the market's improvement to the US and Iran pausing military action, easing fears of supply disruption.
Brent crude prices tanked 4% lower at $92.84 per barrel, providing a significant tailwind for India through lower inflation expectations and an improved current account outlook.