Indian Equities Rally on Monday as Falling Oil Prices Boost Risk Appetite
Indian benchmark indices surged on Monday, gaining more than 1%, as a sharp decline in crude oil prices improved investor sentiment and triggered broad-based buying across sectors.The BSE Sensex climbed 1,073.61 points, or 1.4%, to close at 76,488.96, while the NSE Nifty 50 advanced 312.40 points, or 1.3%, to settle at 24,031.70.Market sentiment strengthened after Brent crude prices dropped more than 5% to trade below $98 per barrel amid growing optimism over a possible agreement between the U.S. and Iran. The decline in oil prices supported risk appetite across segments.Among individual stocks, Blue Jet Healthcare (NSE:BLUEJET, BOM:544009) jumped nearly 10% despite reporting a decline in fiscal fourth-quarter consolidated profit to 643.4 million rupees from 1.10 billion rupees a year earlier. Revenue from operations also fell to 2.35 billion rupees from 3.40 billion rupees.Cyient (NSE:CYIENT, BOM:532175) rose nearly 2% after announcing that its subsidiary Cyient Semiconductors will raise up to $30 million from funds managed by EAAA India Alternatives and affiliated co-investors. The transaction includes equity investment and structured debt funding.
