Sensex Jumps Over 800 Points, Nifty Above 24,200 On Crude Easing, Election Cues

Indian benchmark indices started Monday’s session with solid gains, supported by softer crude prices and signs of reduced geopolitical strain in West Asia, along with early cues from the ongoing Assembly election counting.

The BSE Sensex rose by 833 points, or 1.08 per cent, to reach an early high of 77,746.79. The Nifty 50 also advanced, climbing 250 points or 1.03 per cent to 24,245.85 during morning trade.

Gains were widespread across sectors, with strong participation in automobile, real estate, metal, FMCG and oil & gas shares.

Sectoral indices tracking these segments recorded increases of up to nearly two per cent.

At the same time, a few heavyweights saw declines. Stocks such as Kotak Mahindra Bank, Dr Reddy’s Laboratories, Tata Consultancy Services, ITC Limited and Bharti Airtel were among the laggards in the index.

Globally, developments in West Asia remained in focus. US President Donald Trump indicated that the US would take steps to assist vessels stuck in the Strait of Hormuz, calling it a humanitarian initiative for countries not directly involved in the conflict.

Iran, meanwhile, said it is examining Washington’s reply to its proposed peace framework shared through Pakistan.

Back home, vote counting in Assembly elections is underway across several states. It includes Tamil Nadu and West Bengal, along with a Union Territory.

Market participants are closely watching these trends for near-term cues, particularly developments emerging from West Bengal.

Analysts say crude oil movements will remain a key influence on equities.

Recent diplomatic signals have weighed on prices. Brent crude fell by 66 cents, or 0.61 per cent, to $107.51 per barrel. US West Texas Intermediate (WTI) dropped $2.83, or 2.77 per cent, to $99.11 per barrel.

Across Asia, markets traded with strong upward momentum. Key indices in Japan, Hong Kong and South Korea recorded gains of up to four per cent, reflecting improved investor sentiment globally.

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