Sensex Jumps 600 Points, Nifty Up 0.8% As Falling Crude Prices And FII Inflows Lift Sentiment
Indian benchmark indices opened sharply higher on Monday, supported by falling crude oil prices, foreign investor buying and improving domestic economic indicators. The Sensex and Nifty gained over 0.7%, with PSU banks, FMCG and financial stocks leading the rally. Analysts said lower oil prices and strong fundamentals are favouring market bulls
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Indian equity markets began Monday’s session on a strong note, outperforming other Asian markets as a decline in crude oil prices, continued foreign institutional investor (FII) inflows and positive domestic economic trends boosted investor confidence.
At 10:25 am, the BSE Sensex was trading 596 points higher, gaining 0.76% to reach 78,691. The NSE Nifty50 also advanced 194 points, or 0.8%, to trade at 24,577.
The market rally followed a sharp fall in global crude prices, with Brent crude declining nearly 5% to around $83.5 per barrel. Sentiment improved after US President Donald Trump indicated that talks with Iran were scheduled for Monday, raising hopes of easing geopolitical tensions in the Middle East.
Lower crude prices are considered positive for India, which imports nearly 85% of its crude oil requirements. A decline in oil prices helps reduce import costs and provides relief from inflationary pressures.
Market participation remained strong, with 14 of the 16 major sectoral indices trading higher.
PSU bank stocks led the gains, with the index rising 1.70%. FMCG followed with a 1.48% increase, while Chemicals gained 1.23%, Financial Services Ex-Bank rose 1.02%, Metals advanced 0.94%, Financial Services climbed 0.83%, Private Banks gained 0.75% and IT stocks increased 0.65%.
Media stocks were the weakest performers, declining 1.97%, while Pharma stocks slipped 0.19%.
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Broader markets also showed strength. The Nifty Smallcap 100 rose 1%, while the Nifty 500 gained 0.71%. Other indices, including Nifty 100, Nifty 200, Midcap 100 and Midcap Financial Services, traded positively. India VIX increased marginally by 0.36% to 11.80.
On the Sensex, ITC was the top performer, rising 3.68%, followed by IndiGo, which gained 2.50%. SBI advanced 1.84%, Bajaj Finserv increased 1.79%, Infosys rose 1.64% and Bajaj Finance gained 1.60%.
Other gainers included TCS, Axis Bank, Asian Paints, Larsen & Toubro and ICICI Bank. On the downside, Sun Pharma declined 2.08%, Maruti Suzuki fell 1.75%, Eternal dropped 0.69% and Bharti Airtel slipped 0.33%.
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