10 hrs ago
Indian Stocks Rise as Brent Crude Falls Below $101
Indian stocks finished higher on Monday.
The Sensex and Nifty both gained ground.
The Nifty rose for the fourth trading session in a row.
Oil prices dropped below $101 per barrel.
Cheaper oil can reduce worries about inflation and energy costs.
Asian markets were mostly higher, which also supported investors.
Even with Monday’s gains, both main indexes had fallen for six weeks in a row.
Indian institutions bought shares, while foreign investors sold some shares.
The Sensex gained 564.03 points, or 0.76%, to close at 74,858.99.
The Nifty rose 67.90 points, or 0.29%, ending at 23,414.30 for its fourth straight session of gains.
Brent crude fell about 3.5% to around $100.20 a barrel, easing inflation concerns in oil-importing economies.
Indian benchmark indices still recorded weekly losses for a sixth consecutive week.
Domestic institutional investors bought shares worth Rs 2,797.27 crore, while foreign portfolio investors sold Rs 576.20 crore.
- Who
- Indian equity investors, domestic institutions, foreign portfolio investors and market analysts.
- What
- Indian benchmark stock indices rose as Brent crude prices declined below $101 a barrel.
- Where
- Indian stock exchanges, with global cues from Asian markets.
- When
- Monday; the indices had also posted gains for the previous four trading sessions.
- Why
- Falling oil prices eased inflation and energy-cost concerns, while bargain buying and supportive global sentiment helped markets recover.
Key facts
- Sensex close
- 74,858.99, up 564.03 points or 0.76%
- Nifty close
- 23,414.30, up 67.90 points or 0.29%
- Brent crude
- Down about 3.5% to around $100.20 per barrel
- Weekly performance
- Benchmark indices recorded losses for a sixth consecutive week
- Market capitalisation
- BSE-listed companies reached Rs 481.58 lakh crore
- Domestic institutional buying
- Rs 2,797.27 crore on Monday; cumulative purchases this year reached Rs 6.02 lakh crore
- Foreign portfolio investment
- Foreign portfolio investors sold shares worth Rs 576.20 crore
Quotes
Ajit Mishra
SVP–Research at Religare Broking
“Improving sentiment ahead of the upcoming US-China talks, renewed hopes of diplomatic engagement between the US and Iran at the UN, and the decline in oil prices and bond yields have provided relief to investors.”
financialexpress.com
“Markets extended their recovery on Monday, with the Nifty gaining for the fourth consecutive session as easing crude prices and bargain buying supported sentiment following the recent six-week correction.”
financialexpress.com
Sources
Related news
Sensex, Nifty Recover as Brent Crude Falls Below $90
Indian Stocks Open Higher as Crude Prices Continue Falling
Indian Stocks Rebound as Crude Oil Prices Retreat
Indian Stocks Rise as Oil Cools, NSE IPO Attracts Bids
Indian Markets Open Higher as Falling Oil Prices Lift Sentiment
Indian Stocks Edge Higher as Crude Prices Ease
NSE’s options dependence draws scrutiny ahead of listing
Naturite Products Shares Rise Ahead of September Stock Split
NSE IPO Closes Nearly Six Times Subscribed Ahead Of Listing
