Indian Markets Rally as Sensex Surges 800 Points in Morning Deals
Indian benchmark indices Sensex and Nifty rallied up to 1 percent in early trade on Monday, propelled by declining global crude oil prices, healthy monsoon progress, and returning foreign institutional inflows.
MUMBAI, Aug 3 — Indian equity benchmark indices opened firmly higher on Monday, surging up to 1 per cent in early morning trade driven by broad-based buying in banking, FMCG, and metal shares. The positive sentiment was further bolstered by declining global crude oil prices, favorable monsoon progress, and a resurgence in foreign institutional investor (FII) inflows.
The 30-share BSE Sensex surged 800 points, or 1.02 per cent, reaching an intraday high of 78,895.10 in early deals. Simultaneously, the broader NSE Nifty 50 advanced 192.85 points, or 0.79 per cent, to touch 24,576.45.
Sectoral trends were largely positive: