Oil Price Plunge Lifts Indian Equities Higher

Indian equity benchmarks opened higher on Wednesday, buoyed by sharp declines in oil prices. Brent crude had dropped more than 2 per cent, trading around $86 per barrel.

The Sensex surged 236.01 points or 0.30 per cent to open at 77,892.10, while the Nifty rose 7.40 points or 0.03 per cent to start the session at 24,341.95.

PSU banking shares led gains in early trade, with Nifty PSU Bank rising 1.4 per cent. Nifty Realty and Nifty MidSmall Financial Services also gained 0.66 per cent and 0.48 per cent respectively.

However, analysts cautioned that the market's momentum may be limited due to technically weak heavyweight stocks.