Markets open higher; Rupee rises 35 paise, now at 96.18 against US dollar

Indian equity markets opened higher on Monday after five consecutive sessions of losses as oil prices fell following a pause in US-Iran strikes.

The BSE Sensex jumped 566 points to 76,608.66 while Nifty 50 surged 153.60 points to 23,923.30. Gains in Tata Consumer Products, NTPC, IDFC First Bank and AU Small Finance Bank after their quarterly results boosted market sentiment. The Indian rupee strengthened 35 paise to 96.18 against the US dollar in early trade.

Oil prices fell about 5% on Monday after the US and Iran paused strikes over the weekend and shipping resumed through the Strait of Hormuz.

Brent crude dropped 5.05% to USD 91.89 a barrel, while US West Texas Intermediate fell 5.23% to USD 84.64. Both benchmarks hit their lowest levels in nearly a week.