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Markets trade higher as Nifty crosses 24,500, Sensex up 0.7%
The broader market also participated in the rally, with small-cap stocks rising 0.7% and mid-caps adding 0.4% respectively.
Stock Market Today: Indian shares opened higher on Monday, outperforming broader Asia as Brent crude fell about 5% on rising hopes of peace in the Middle East.(Representative image)
Indian stock markets opened higher on Monday, with Nifty and Sensex outperforming broader Asia as Brent crude dropped nearly 5 per cent amid hopes of easing Middle East tensions.
The benchmark Nifty 50 advanced 0.69 per cent to 24,552.95, while the BSE Sensex gained 0.72 per cent to 78,658.01 as of 9:17 am IST.
Fourteen of the 16 major sectoral indices registered gains at the open.
The broader market also participated in the rally, with small-cap stocks rising 0.7% and mid-caps adding 0.4%, respectively.
Brent crude prices plummeted about 5% to $83.5 per barrel after US President Donald Trump said that the talks with Iran would happen on Monday but did not set a deadline for an agreement.
Rupee jumps 31 paise
The rupee surged sharply in early trade on Monday, backed by a steep decline in global crude oil prices and a softer greenback.
The currency rose 31 paise to 95.12 against the US dollar.
According to forex traders, the rupee also drew support from FII inflows, an increase in the country’s foreign exchange reserves, and continued backing from the Reserve Bank of India (RBI) in the currency market.
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At the interbank foreign exchange market, the rupee opened at 95.15 against the greenback and strengthened further to 95.12, registering a 31-paise gain from its previous close.
The rupee extended its stay in positive territory for a fifth consecutive day on Friday, appreciating 7 paise to settle at 95.43 against the US dollar.
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