Sensex, Nifty trade higher in early deals amid easing West Asia tensions
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Indian stock markets rose on Monday, following upbeat global signals as crude oil prices eased and tensions in West Asia softened.
The Sensex jumped more than 400 points, up 0.54%, reaching an intraday peak of 77,223 during morning trade, while the Nifty gained over 100 points, up 0.51%, to 24,137.
Sector-wise, IT shares led the advance, with the Nifty IT index climbing above 1%. The Nifty MidSmall IT & Telecom and Nifty Oil & Gas indices each rose around 0.8%.
Consumer durables, financial services, media and metal stocks were in the green, whereas auto, pharma, realty and FMCG indices posted modest gains. Indeed, every sectoral index traded higher in early trade. On the flip side, IndiGo, Titan, Grasim Industries and Bharti Airtel figured among the Nifty’s top decliners.
Market analysts said the domestic equity strength is backed by softer crude oil prices, a stronger rupee and reduced foreign fund outflows.
They added that Brent crude staying under $80 a barrel, even with West Asian uncertainties, indicates that investors do not anticipate a significant flare‑up of the conflict.
Analysts noted that a firmer rupee and the outlook for new capital inflows could further boost sentiment, while mid‑ and small‑cap stocks remain attractive on hopes of stronger earnings. Banking shares, especially those in the Bank Nifty, continue to show solid fundamentals, they said.
On the commodities front, the international Brent benchmark dropped more than 2% to $78.74 a barrel, while US WTI crude slipped about 3% to $74.98 a barrel.
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