Stock market crash and escape. Stocks market index to change direction. Investment growth. Businessman pulls up the red arrow graph. | Photo Credit: Yellow Man
Indian stock markets opened higher on Tuesday, extending a two-session rally as optimism over a preliminary US-Iran peace agreement pushed crude oil prices lower and improved investor sentiment.
At 11:06 a.m., the Sensex was trading at 76,653.60, up 389.27 points or 0.49 per cent, while the Nifty 50 stood at 23,956.60, gaining 102.70 points or 0.43 per cent.
The fall in oil prices is positive for India, one of the world’s largest crude importers, as it could ease inflation pressures, support the rupee and improve the trade deficit.
The Nifty 50 has recovered after facing pressure from elevated oil prices and foreign outflows since the Iran conflict began. Recent RBI measures and renewed foreign investor buying have also improved market sentiment.
Analysts said easing geopolitical risks and moderation in selling pressure could support the ongoing market recovery.
* Market breadth:The advance/decline ratio at 29:21 reflects a positive undertone, with most sectors trading in the green.
* Sectoral trend: IT and media stocks are leading the gains, while metal stocks remain under pressure. Sustained participation across sectors could support the index.
* Trading view: Dips towards 23,900–23,880 may attract buyers, while a move below 23,800 could weaken momentum and trigger further downside.
* Nifty futures setup: Positive bias remains intact above 23,800. Traders may watch for a breakout above 24,000 for the next leg of momentum.
