Indian shares open higher after oil slips to pre-Iran war levels
- The benchmark Nifty 50 rose 0.43% to 24,125.85, while the BSE Sensex added 0.52% to 77,391.07
Indian shares opened higher on Thursday, tracking broader Asia after oil prices fell to pre-Iran war levels as stranded tankers exited the Strait of Hormuz following an initial peace deal between the U.S. and Iran.
The benchmark Nifty 50 rose 0.43% to 24,125.85, while the BSE Sensex added 0.52% to 77,391.07, as of 9:15 a.m. IST.
Fifteen of the 16 major sectors logged gains. The broader small-caps and mid-capsrose 0.4% each.
Brent crude fell 1.7% to $72.5 a barrel, easing concerns about growth and inflation outlook in the world’s No. 3 oil importer and consumer.
Other Asian stock markets rose 1.3%, helped by lower oil prices and as strong earnings and forecasts from chip giants Micron and Qualcomm helped ease fears about the red-hot AI rally.
Both the Nifty 50 and Sensex have risen in seven of the last nine sessions, gaining about 4% each, aided by lower oil prices after the U.S.-Iran peace deal.
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