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Indian stocks rise nearly 1% as crude oil falls and IT gains
The Nifty IT climbed 3.3% and Nifty Realty, Chemicals, and FMCG each gained more than 1.5%, while Nifty Media fell 3.4%.
Indian equities ended higher Monday, with both benchmark indices gaining nearly 1% as a sharp drop in crude oil prices boosted risk sentiment, according to LiveMint Markets. The move was tied to easing tensions in West Asia after U.S. President Donald Trump said peace talks with Iran would resume and canceled a planned military strike, which also followed a claim that Middle East allies agreed on a framework deal involving reopening the Strait of Hormuz.
The Nifty 50 rose 0.78% to close at 24,573, while the Sensex advanced 0.75% to settle at 78,677, extending gains to a fourth consecutive session. Broader participation followed, with Nifty Midcap 100 and Nifty Smallcap 100 both climbing more than 1%.
Sector winners were led by Nifty IT, which gained 3.28%, and Nifty Private Bank, up 2%. Nifty Realty, Nifty Chemicals, and Nifty FMCG also rose more than 1.5% each, while Nifty Media was the only sectoral decliner, falling 3.41%.
Several individual stocks advanced on earnings and sector momentum. Urban Company and Pine Labs jumped 13% and 10%, respectively, after reporting strong June-quarter results that beat Street expectations, and Redington extended its earnings-driven rally for a third straight session, rising 8% to a fresh all-time high of ₹357. In large-cap technology, L&T Technology Services climbed 7.5% and TCS gained 4.6%, helping IT stocks post robust gains overall.
Latest closeWTI crude $86.80 ▲3.8%|Sensex 77,928.15 ▲0.3%