Now Reading: Sensex surges 470 points as crude oil slides below $84
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Sensex surges 470 points as crude oil slides below $84
Sensex jumped 470 points and Nifty rose 150 points in early trade on Monday as Brent crude crashed 4.9% to $83.56 a barrel. Foreign funds turned buyers after US President Donald Trump…
The Story in Brief
Sensex jumped 470 points and Nifty rose 150 points in early trade on Monday as Brent crude crashed 4.9% to $83.56 a barrel. Foreign funds turned buyers after US President Donald Trump signalled fresh negotiations with Iran, easing fears of a wider conflict. ITC, Bajaj Finserv and Infosys led the rally, while Sun Pharma and Maruti lagged.
FIIs bought equities worth Rs 277.48 crore on Friday, exchange data showed. Asian markets were mixed, with Seoul and Tokyo falling while Hong Kong gained. Analysts called crude's decline and continued foreign buying positive triggers for the near term.
The Indian Opinion
Markets love a falling oil price, but the sudden rally rests on a fragile hope: Trump's talks with Iran are yet to yield anything concrete. A ceasefire, not just a pause in tit-for-tat strikes, will decide whether this dip in crude becomes a trend. If Brent stays below $80 for a week, the bull case holds. Until then, call it a relief rally, not a recovery.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
