Sensex Surges 800 Points on Falling Crude Oil Prices

Indian equity markets surged on Monday as benchmarks rallied up to 1% in morning trade. The Sensex jumped 800 points or 1.02% to an intraday high of 78,895.10, while Nifty climbed 192.85 points or 0.79% to 24,576.45.

The gains were led by FMCG, metal, cement, and banking shares, with Nifty indices rising up to 1%. However, media, pharmaceutical, and healthcare stocks remained under selling pressure.

Analysts attribute the market's strength to falling crude oil prices, favourable monsoon progress, and foreign institutional investors turning net buyers. They note that resilient economic growth, credit growth running above 18%, healthy automobile sales, and better-than-expected first-quarter earnings indicate FY27 earnings growth could surpass earlier estimates.

Strong inflows through FCNR(B), ECB, and OFCB routes have helped stabilise the rupee, facilitating the return of foreign investors. The immediate support is placed at 24,350, backed by a concentration of PUT open interest.