File photo: Bombay Stock Exchange building, Mumbai. Photo: Niyantha Shekhar (CC BY 2.0)
Sensex, Nifty rebound sharply as crude oil prices sink 5%
India’s Sensex and Nifty rebounded sharply on Monday as crude oil prices sank 5%, ending a five-session losing streak.
India’s Sensex and Nifty rebounded sharply on Monday, ending a five-session losing streak, as crude oil prices sank 5 per cent.
The Sensex opened at 76,608.98, up 549.21 points or 0.72 per cent, while the Nifty gained 160.95 points to open at 23,928.40.
Friday’s close had left both benchmarks at their lowest in over a month, with the Sensex at 76,059.77 and the Nifty at 23,767.45.
The turnaround followed a sharp drop in crude oil prices amid easing West Asia tensions, with prices pulling back from a two-month high seen last week.
IndiGo was the standout gainer on the Sensex, rising 3.11 per cent, with Eternal, Infosys, Asian Paints and Bajaj Finance also among the top performers.
The broader market followed suit, with the BSE Smallcap Select Index climbing 1.05 per cent to 8,677.49.
(Image: Niyantha Shekhar (CC BY 2.0))