Sensex Gains 564 Points; Nifty Ends Above 23,400 As Oil Prices Ease

Indian equity benchmarks closed higher on Monday as easing crude oil prices and softer global bond yields improved investor sentiment. Buying in heavyweight stocks and defensive sectors supported the market despite subdued broader indices.

The Sensex gained 564.03 points, or 0.76 per cent, to settle at 74,858.99. The Nifty rose 67.90 points, or 0.29 per cent, to close at 23,414.30.

Market experts said the Nifty continues to hold above 23,300, keeping its short-term recovery structure intact.

The index faces resistance at 23,500–23,600, while 23,300 and 23,200 remain immediate support levels.

Easing crude prices reduced concerns over inflation and energy costs. Lower global bond yields strengthened demand for risk assets and encouraged buying in select frontline stocks.

Among Nifty constituents, Eternal, HCL Technologies and SBI Life Insurance Company emerged as the leading gainers.

Broader markets remained relatively subdued. The Nifty MidCap index fell 0.29 per cent, while the Nifty SmallCap index declined 0.07 per cent.

Defensive and consumption-focused sectors outperformed. Nifty FMCG, Pharma, Healthcare, Realty and Consumer Durables indices recorded strong gains.

Metal and state-owned banking stocks faced selling pressure. Nifty Metal and Nifty PSU Bank ended lower.

Market watchers cited improving sentiment ahead of upcoming US-China talks, hopes for US-Iran diplomatic engagement at the UN, and falling oil prices and bond yields as key positives.

The rupee strengthened around 0.11 per cent to 95.81. Crude prices fell nearly 7 per cent over the past 2–3 sessions to around $91.50, supporting the currency near 96.00. Experts expect the rupee to trade between 95.45 and 96.15.

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