Indian Stock Markets on Thursday opened the trading session on a strong note, with benchmark indices Sensex and Nifty witnessing a sharp rally at the opening bell. The BSE Sensex surged over 1,300 points in early trade, reflecting strong buying interest across the market, while the NSE Nifty also opened with significant gains.
\n\nAt 2:20 PM, Sensex was up by 1981.21 points or 2.56% to 79,282.61 while Nifty was at 24,512.20, up by 551.60 points or 2.30%.
\n\nDalal Street cheered a sharp decline in global crude oil prices following US President Donald Trump's Republican Party suffering a major setback in the midterm elections. The Democrats' victory in both chambers of Congress and the resulting over 8% plunge in oil prices lifted investor sentiment, offering a positive trigger for domestic equities amid expectations of relief on the inflation and corporate cost fronts.
\n\nThe strong opening marked a positive start for Dalal Street, with investors tracking global market cues and developments in crude oil prices. The sharp decline in international oil prices also provided a potential boost to investor sentiment, given India's dependence on imported crude and the implications of lower oil prices for inflation, corporate costs and the country's import bill.
Original source: https://www.timesnownews.com/business-economy
