Sensex and Nifty Extend Rally Amid Declining Crude Oil Prices
Indian benchmark stock indices continued their upward trend for a fourth consecutive session on Monday, driven by a sharp decline in crude oil prices. The Sensex gained 544.39 points, or 0.7%, to close at 78,639.03, while the Nifty advanced 391 points, or 1.6%, to finish at 24,774.30.
The decline in crude oil prices, attributed to possible talks between the United States and Iran, eased concerns about inflation and India's import costs. This boost in investor sentiment led to strong buying in information technology stocks, which provided significant support to the market.
InterGlobe Aviation, Infosys, and Tata Consultancy Services were among the top gainers on the Nifty, while the Nifty MidCap index rose 1.21% and the Nifty SmallCap index gained 1.29%. Sectoral indices such as Nifty IT, Nifty FMCG, and Nifty PSU Bank also posted strong gains.