Stock markets rally in early trade as crude oil prices drop

Mumbai: Benchmark indices surged in early trade on Monday as a sharp fall in crude oil prices and easing geopolitical tensions boosted investor sentiment.

The 30-share BSE Sensex jumped 470.06 points to 78,564.70 in initial deals. The 50-share NSE Nifty climbed 150 points to 24,532.95.

Market analysts said the drop in crude oil prices helped lift sentiment, as lower energy costs ease inflation concerns and reduce pressure on India’s import bill. Foreign fund inflows also supported the rally during early trade.

The gains came despite mixed global cues, with investors focusing on domestic factors and the outlook for inflation and corporate earnings.