Sensex Jumps 500 Points, Nifty Crosses 24,150 as Crude Oil Prices Fall
Mumbai: Indian equity benchmarks opened higher on Tuesday, extending their recovery after a volatile start to the week. Gains in the domestic market were supported by a decline in global crude oil prices and improved sentiment across international markets.
According to a report by Moneycontrol, the BSE Sensex rose about 445 points, or nearly 0.6 percent, to reach around 78,011 in early trade. Meanwhile, the NSE Nifty advanced roughly 135 points to move above the 24,150 level, indicating a positive start to the session. Market breadth remained strong, with a large number of stocks trading in the green compared with those declining.
The recovery comes after a turbulent trading session on Monday, when Indian markets experienced sharp intraday losses amid a surge in crude oil prices linked to geopolitical tensions in the Middle East. Both benchmark indices had dropped more than 3 percent during the session before recovering part of the losses by the close.
Investor sentiment improved after crude oil prices reversed sharply from earlier highs. Oil had briefly surged close to $120 per barrel but later retreated to around $89, easing concerns about inflation and global supply disruptions. Analysts noted that such sharp swings in crude prices have contributed to volatility in financial markets worldwide.
Among individual stocks on the Nifty, InterGlobe Aviation and Shriram Finance were among the top early gainers. Shares of UltraTech Cement, Asian Paints, Adani Ports, and Mahindra & Mahindra also recorded gains of around 2 percent. Other stocks such as Titan Company, Dr Reddy’s Laboratories, Eicher Motors, and Tata Steel advanced between 1 percent and 2 percent in early trade.
However, some stocks including ONGC, Reliance Industries, Infosys, and Tech Mahindra traded slightly lower. Sectoral indices largely moved higher, with consumer durables, auto, pharma, and banking stocks showing notable gains. The India VIX, a key gauge of market volatility, declined significantly, reflecting improved investor risk appetite.
Market experts caution that volatility may persist in the near term due to fluctuations in crude oil prices and ongoing geopolitical developments in the Middle East, as reported by Moneycontrol.
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