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Indian Shares Rally As Crude Oil Eases
Reliance rose more than 6% after record quarterly profit, while Brent crude fell 3% and foreign funds bought Rs 3,598.54 crore in equities.
- BSE Sensex and NSE Nifty surged in early trade on Monday, driven by a sharp rally in bellwether Reliance Industries post earnings announcement and cooling crude oil prices.
- Reliance Industries jumped over 6 per cent after posting a record quarterly profit of Rs 29,550 crore for July-September, while Brent crude prices eased to USD 110 per barrel from last week's high of USD 118.
- Gainers included NTPC, Tata Steel, Power Grid, Maruti, and State Bank, while Sun Pharma, Tech Mahindra, Titan, and Infosys traded lower. Foreign Institutional Investors purchased equities worth Rs 3,598.54 crore.
- Positive sentiment spread across Asian markets, with South Korea's Kospi, Japan, Shanghai's SSE Composite, and Hong Kong's Hang Seng index all quoting higher, bolstered by steady Foreign Institutional Investors inflows.
- Chief Investment Strategist Vijayakumar at Geojit Investments Limited noted the weakening artificial intelligence trade benefits India, which is regarded as a 'counter artificial intelligence play' amid declining 10-year bond yields to 4.93 per cent.
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16 Articles
Stock Market Rally: The first day of the week got off to a great start for investors in the stock market. The BSE Sensex jumped 1,000 points upon opening, and shares of Mukesh Ambani's Reliance were seen making waves.
Coverage Details
Total News Sources16
Leaning Left3Leaning Right3Center3Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
Factuality
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