Mumbai
Indian equity markets recovered on Monday, with benchmark indices ending higher as easing crude oil prices, fresh foreign fund inflows and encouraging global developments boosted investor confidence.
The BSE Sensex rose 291.17 points, or 0.38 per cent, to close at 77,094.07, after touching an intraday high of 77,325.56.
The Nifty 50 advanced 89.80 points, or 0.37 per cent, to settle at 24,102.90.
Market participants drew comfort from declining global crude prices and renewed hopes of diplomatic progress between the United States and Iran, which helped improve risk appetite across global markets.
Reliance, HDFC Bank Lead Gains
Among the major gainers on the Sensex were:
Meanwhile, losses were seen in shares of:
Crude Oil Eases
Global oil benchmark Brent Crude fell 1.66 per cent to USD 79.23 per barrel, easing concerns over inflationary pressures and import costs.
Foreign institutional investors (FIIs) remained net buyers, purchasing equities worth Rs 4,859.07 crore on Friday, according to exchange data.
Global Markets Mixed
Across Asia, markets ended mostly positive:
European markets traded largely in negative territory, while US markets remained closed on Friday for the Juneteenth holiday.
Focus on US-Iran Talks
Investor sentiment was supported by reports that Washington and Tehran had agreed on a roadmap aimed at reaching a final agreement within 60 days following talks held in Switzerland.
Analysts said the possibility of continued diplomatic engagement reduced fears of supply disruptions in global energy markets.
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Market experts noted that utilities, banking and healthcare stocks outperformed, helping Indian benchmarks recover from Friday's losses, when the Sensex had fallen 607 points and the Nifty had dropped nearly 155 points.
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