Top News

Indian benchmark equity indices opened higher on Thursday, tracking strong gains in global markets and softer crude oil prices amid growing optimism over a possible de-escalation of tensions in West Asia.

The 30-share BSE Sensex rose 327.74 points in early trade to 75,646.13, while the Nifty 50 advanced 111.75 points to 23,772.05.

Among the top gainers on the Sensex were InterGlobe Aviation, Bharat Electronics, Asian Paints, Tata Steel, Larsen & Toubro and Eternal.

On the other hand, Trent, Infosys, Sun Pharma and Bajaj Finserv were among the laggards.

Investor sentiment was buoyed by a decline in global crude prices, with Brent crude easing to around 105.7 dollars per barrel. Analysts said the softer oil prices offered relief to markets concerned about inflationary pressures and geopolitical uncertainty.

Asian markets largely traded in positive territory, with South Korea’s Kospi surging more than seven per cent, while Japan’s Nikkei 225 and Shanghai’s SSE Composite also recorded gains. Hong Kong’s Hang Seng index, however, traded marginally lower.

Wall Street had closed sharply higher overnight, adding to the positive momentum across global equities.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the fall in Brent crude prices was an encouraging sign for investors. He noted that market participants appeared to be reacting positively to comments from US President Donald Trump suggesting that the conflict could end soon and oil prices might decline further.

Ponmudi R, chief executive of Enrich Money, said investor confidence had improved significantly as markets increasingly priced in the possibility of diplomatic progress between the US and Iran.

Despite Thursday’s gains, foreign institutional investors remained net sellers, offloading equities worth Rs 1,597.35 crore on Wednesday, according to exchange data.

In the previous session, the Sensex had settled 117.54 points higher at 75,318.39, while the Nifty closed up 41 points at 23,659.

With IANS inputs