Indian benchmarks open near three-month highs as oil slides after US Democratic win
The benchmark Nifty 50 rose 1.66% to 24,357.3, while the Sensex added 1.83% to 78,719.72, by 9:18 a.m. IST. (Source: File)
India’sequity benchmarks opened near three-month highs on Thursday as oil prices slid on hopes that the Democrats’ victory in theUS midterm elections could hasten the end of the US-Israeli war on Iran.
The benchmark Nifty 50 rose 1.66% to 24,357.3, while the Sensex added 1.83% to 78,719.72, by 9:18 a.m. IST.
Brent crude futures dropped 1% to $93.5 per barrel, after an 8.7% slide in the previous session.
Market sentiment was also bolstered by signs that foreign investors were returning to India. Foreign investors bought shares worth 72.84 billion rupees ($769.65 million) on Wednesday, as per provisional data. This marks their fourth straight session of buying.
Fourteen of the 16 major sectors rose. The broader small-caps and mid-caps jumped over 1% each.
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