Indian equity markets opened on a strong note on Thursday as declining crude oil prices and improving global sentiment boosted investor confidence.
The positive momentum followed reports of easing tensions in West Asia, which helped stabilise energy markets and supported risk appetite among investors.
The BSE Sensex rose more than 400 points, or 0.52 per cent, to open at 77,391.07, while the NSE Nifty gained over 100 points, or 0.43 per cent, to begin trading at 24,125.85.
Most sectoral indices traded in positive territory during early trade.
Realty and automobile stocks led the gains, while banking, information technology, pharmaceutical, oil and gas, FMCG and private banking shares also advanced.
Metal stocks, however, remained under pressure and emerged as the only major laggard among sectoral indices.
Broader markets outperformed the benchmarks, reflecting strong investor participation.
Microcap, midcap, and smallcap indices posted gains of up to nearly one per cent, indicating widespread buying interest across market segments.
Among individual stocks, shares of Hindalco Industries, Bharat Electronics, Power Grid Corporation, ONGC, Infosys, Titan, Tata Steel, JSW Steel, ITC, Asian Paints and Coal India witnessed weakness during early trading hours.
India VIX, the market’s fear gauge, fell nearly three per cent to around 13, signalling easing volatility and improved investor confidence.
Analysts said the Nifty’s outlook remains positive above the 24,000 mark, supported by favourable global cues and softer crude oil prices.
Brent crude declined to around $72 per barrel, while US WTI crude slipped below $70 as tanker movement resumed through the Strait of Hormuz.
Lower oil prices are positive for India as they help reduce import costs and inflationary pressures.
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