Sensex Jumps 291 Points, Nifty Tops 24,100 as Oil Prices Fall and FIIs Buy

Indian equity benchmarks recovered on Monday after a sharp decline in the previous session, supported by easing crude oil prices , fresh foreign fund inflows , and improving global sentiment amid hopes of progress in US-Iran diplomatic negotiations .

The benchmark BSE Sensex climbed 291.17 points , or 0.38 per cent, to close at 77,094.07 . During intraday trade, the index advanced as much as 522.66 points to touch 77,325.56. The NSE Nifty 50 also ended higher, gaining 89.80 points , or 0.37 per cent, to settle at 24,102.90 .

Market participants drew comfort from a decline in global crude oil prices, with Brent crude falling 1.66 per cent to $79.23 per barrel . Lower oil prices are generally viewed as positive for India, a major crude importer, as they help ease inflationary pressures and improve fiscal stability.

Investor sentiment was further boosted by sustained foreign institutional investor (FII) buying . Exchange data showed FIIs purchased Indian equities worth ₹4,859.07 crore on Friday, providing additional support to the market recovery.

Among the Sensex constituents, Tech Mahindra, Sun Pharma, Reliance Industries, Infosys, Bharat Electronics and Bajaj Finserv emerged as the top gainers. On the other hand, Asian Paints, Titan, Power Grid and Trent ended the session in negative territory.

Global cues also aided sentiment after reports indicated that the United States and Iran had agreed on a roadmap aimed at reaching a broader agreement within 60 days following talks held in Switzerland. The development raised hopes of easing geopolitical tensions and improving stability in energy markets.

Asian markets largely closed higher, with gains seen in South Korea, Japan and China, while Hong Kong ended lower. European markets traded mostly in the red during afternoon trade.

Analysts said investors remained cautiously optimistic , balancing geopolitical developments with expectations of stable domestic economic conditions. The gains helped reverse part of Friday's losses, when the Sensex had fallen 607 points and the Nifty shed nearly 155 points amid global uncertainty.