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India stocks rise as crude falls and trade-linked diplomacy improves
The Nifty 50 closed up 0.50% at 23,446 and the Sensex gained 0.40% to 74,828, while metals and select financials led gains.
India’s stock market extended its recovery on Wednesday, September 23, with the Nifty 50 rising 0.50% to 23,446 and the Sensex up 0.40% to 74,828. LiveMint Markets attributed the move to falling crude oil prices boosting sentiment, alongside signs of progress in diplomatic efforts to end the war with Iran.
The rally was supported by heavy buying in metals and select financial stocks, which outweighed weakness in technology shares. Sector results showed metals leading as global metal prices firmed on supply concerns and resilient demand from China, while Nifty IT was the only decliner amid demand and earnings concerns even as AI-heavy Asian technology markets advanced.
In financials, LiveMint Markets cited UBS commentary that CRIF Bureau’s August early delinquency data showed asset quality was stable to improving across most retail loan categories. On commodities, Brent crude fell 0.6% to $98.68 per barrel as markets assessed efforts to restore disrupted oil flows tied to the Middle East conflict.
Elsewhere in Asia, South Korea’s Kospi rose 0.9% to 7,080.92, Hong Kong’s Hang Seng fell 1.1% to 24,821.84, and the Shanghai Composite declined 0.4% to 3,936.52. Australia’s S&P/ASX 200 added 0.1% to 8,765.30, Taiwan’s Taiex gained 0.8%, and Japan’s Nikkei 225 was closed for a holiday and resumes Thursday.
Latest closeWTI crude $90.73 ▼4.1%|Brent $96.22 ▼3.0%|Nikkei 225 65,018.95 ▲1.4%