Sensex Rises 564 Points, Nifty Gains For 4th Day As Falling Oil Prices Lift Market Sentiment

Indian equity markets extended their recovery on Monday, with the Sensex surging 564 points and the Nifty rising for a fourth consecutive session as falling crude oil prices, fresh foreign fund inflows and positive global cues lifted investor sentiment.

The 30-share BSE Sensex gained 564.03 points, or 0.76 per cent, to close at 74,858.99, its highest level in more than a week. During the session, it climbed as much as 692.44 points to touch 74,987.40, coming close to the key 75,000 mark.

The NSE Nifty rose 67.90 points, or 0.29 per cent, to 23,414.30, extending its four-day winning streak.

A major support for the market came from crude oil prices. Brent crude fell 2.36 per cent to USD 101.40 a barrel, easing concerns over India's import bill, inflation and corporate margins. Lower oil prices are particularly important for India because of its dependence on imported crude.

Foreign investor activity also provided support. Foreign Institutional Investors bought equities worth Rs 599.54 crore on Friday, according to exchange data, offering some relief after recent selling pressure.

Among Sensex constituents, UltraTech Cement jumped 4.11 per cent, while HCL Technologies, Eternal, Titan, ITC and Tech Mahindra were among the other major gainers. Bharti Airtel, Power Grid, Infosys and Adani Ports ended lower.

Sectorally, Realty rose 1.71 per cent, Consumer Durables 1.55 per cent, Healthcare 1.12 per cent and FMCG 1.07 per cent. The MidCap Select index gained 0.35 per cent, while SmallCap Select slipped 0.05 per cent.

Analysts also cited optimism around upcoming US-China talks, possible diplomatic engagement between the US and Iran, and lower bond yields. However, geopolitical uncertainty remains a risk.

Meanwhile, the Rs 22,569-crore NSE IPO received nearly six times subscription on its final bidding day, adding to market activity.