Sensex Jumps Over 100 Points as Crude Oil Prices Ease
The Indian market began Tuesday's session on a mixed note but soon gained momentum due to easing crude oil prices and positive trends across global equities. The BSE Sensex climbed over 100 points, crossing the 74,950 mark, while the NSE Nifty50 rose nearly 50 points to trade above 23,450.
The GIFT Nifty indicated a potential positive start for the day, supported by declining crude oil prices and gains in global equity markets. The overnight performance of Wall Street also contributed to the positive sentiment, with all three major US indices closing higher led by technology stocks.
Crude oil prices continued their four-day decline, with Brent crude September futures quoted at $101.70 per barrel on the Intercontinental Exchange. This weakness in crude oil prices provided some relief to oil-importing economies such as India.