Sensex Soars on Crude Price Plunge and Easing Tensions

Indian stock markets rebounded significantly on Monday, ending a five-day losing streak. The benchmark Sensex jumped by 776 points to settle at 76,835.78, while the Nifty surged 228.50 points to end at 23,995.95.

The sharp decline in global crude oil prices, which plummeted 9.40% to $87.64 per barrel, was a primary catalyst for the market rebound. Easing tensions in West Asia also contributed to the positive sentiment, reducing concerns over import costs and inflation.

Eternal jumped by 5.70% as one of the top Sensex gainers, followed closely by InterGlobe Aviation, Infosys, Bajaj Finance, Asian Paints, and Mahindra & Mahindra. HDFC Bank, Power Grid, and Axis Bank were among the laggards.

Vinod Nair, Head of Research at Geojit Investments Limited, attributed the relief rally to a pause in strikes in West Asia, which has eased concerns over rising import costs and inflation. He also mentioned that the sharp correction in crude oil prices, along with a decline in long-term bond yields, has raised hopes for a durable resolution.