Noida, Sep 21 (APAC Media): Indian shares closed higher on Monday, with the benchmark Sensex gaining more than half a per cent, as easing crude oil prices provided some relief to investors amid continuing uncertainty over the US-Iran conflict.
The BSE Sensex rose 564.03 points, or 0.76%, to end at 74,894.86, while the NSE Nifty 50 advanced 67.90 points, or 0.29%, to 23,414.30.
The gains came after Indian equities had recorded six consecutive weeks of losses, with investors buying select large-cap stocks following the recent market decline.
Crude oil prices remained a key focus for investors. Brent crude fell to around $101.69 a barrel, extending a four-session decline. Lower oil prices eased some concerns over India’s import bill, inflation and corporate input costs.
Indian markets had opened higher on Monday, with the Sensex rising more than 350 points in early trade. The recovery strengthened during the session as investors picked up stocks across several sectors.
Pharmaceutical and real estate stocks were among the sectors supporting the market, while gains in heavyweight companies also helped the benchmarks. Twelve of the 16 major sectoral indices ended higher, although broader market segments remained relatively subdued.
Among individual stocks, UltraTech Cement, HCL Technologies, Eternal and Titan Company were among the notable gainers. Banking heavyweights, including HDFC Bank and ICICI Bank, also attracted buying interest.
Foreign and domestic institutional investors were net buyers during the session, according to market data.
However, investors remained cautious as geopolitical tensions continued to influence global markets. Developments in the Middle East, particularly the US-Iran conflict and their potential impact on crude supplies, are expected to remain key factors for Indian equities.
Higher oil prices are closely watched by Indian investors because the country depends heavily on imported crude. A sustained increase in energy prices could put pressure on inflation, the trade balance and corporate profitability.
Market participants are also tracking global bond yields, interest-rate expectations and foreign fund flows for further direction.
Monday’s advance provided a respite for Indian equities following their prolonged decline, but volatility could remain elevated as investors assess geopolitical developments and movements in global commodity markets.
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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