Nifty Hits 24,350 as Crude Oil Prices Drop to $86.2 per Barrel

Indian equity markets started August 26 on a positive note, driven by a cooling in global energy prices. The BSE Sensex rose to trade near 77,900, while the NSE Nifty50 climbed toward 24,370.

The decline in Brent crude oil prices to $86.2 per barrel was a key factor, as India imports a large portion of its oil and cheaper crude helps control inflation and protect profit margins.

The U.S. 10-year Treasury yield softened to around 4.64%, making emerging markets like India more attractive to investors. This environment helped reduce volatility, with the India VIX declining by over 3%.