Sensex Surges as Crude Prices Plunge Amid Easing Geopolitical Tensions

The Sensex and Nifty rose sharply on Monday, led by a decline in crude oil prices. Brent crude fell to USD 83.56 a barrel, down 4.97 percent from its previous close.

This drop is seen as positive for India, which imports most of its crude oil requirement. The Sensex climbed 651.08 points or 0.83 percent to 78,745.72, while the Nifty rose 217.95 points or 0.89 percent to 24,601.55.

The decline in crude prices was one of several factors that contributed to the market's gain. Foreign Portfolio Investors (FPIs) turned net buyers in July, purchasing equities worth Rs 20,199 crore.