Benchmark indices Sensex and Nifty ended higher on Monday amid broad-based buying as easing tensions in the Middle East and a sharp decline in global crude oil prices boosted investor sentiment. FII inflows also strengthened the sentiments of investors. The 30-share BSE Sensex closed 888.68 points or 1.16 per cent higher at 78,639.03. During the day, the benchmark hit a high of 78,895.10 and a low of 78,497.34, gyrating 397.76 points. The 50-share NSE Nifty was up by 30.70 points or 1.60 per cent and ended the session at 24,774.30. The broader market ended the session in the green. While the BSE MidCap Select Index gained 135.43 points or 0.73 per cent, the BSE SmallCap Select Index added 76.84 points or 0.87 per cent.
Among sectoral indices, Nifty IT surged the most, up 3.28 per cent. Nifty Metal and Nifty FMCG jumped around 1.50 per cent.
“The decline in crude oil prices, driven by expectations of renewed dialogue between the U.S. and Iran, provided relief to markets by easing concerns over inflation and corporate earnings. Market sentiment was further supported by a rebound in FII inflows and a strengthening rupee, although elevated U.S. bond yields remain a key risk to the sustainability of foreign flows into emerging markets. Most sectors ended in positive territory, led by IT and FMCG, while pharma witnessed profit booking following its recent gains and the latest Q1 results outcomes,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Rupee trades with positive bias
Meanwhile, the Indian rupee traded with a positive bias near 95.35, gaining around 0.12 per cent, as the US Dollar Index eased to around 100.60 and crude oil prices remained 5–6 per cent lower, providing relief to the domestic currency.
