Sensex Bounces Back as Oil Prices Plummet
Indian markets saw a rebound on Monday as the BSE Sensex rose by about 0.8% to 76,668 at the open. This recovery came after five consecutive sessions of losses due to a sharp decline in global crude oil prices over the weekend.
The US and Iran had halted strikes, leading to improved investor sentiment. However, market participants remained cautious ahead of the US Federal Reserve policy meeting this week. The central bank is expected to keep interest rates unchanged, while investors will be watching for signals on future policy paths.
Among individual stocks, Tata Consumer Products saw gains after reporting stronger-than-expected quarterly earnings. SBI Card advanced on improved asset quality and solid results, while Lodha Developers climbed following a rise in quarterly profit.
In contrast, Bank of Baroda came under pressure due to declining quarterly earnings. Notable gainers included Caliber Mining and Logistics (up 8.9%), Ratnaveer (up 8.1%), Dr. Lal PathLabs (up 6.6%), IDFC First Bank (up 6.2%), Infosys (up 3.1%), and Laurus (up 2.9%).