Sensex, Nifty extend gains for 4th day as crude prices slide

Mumbai: Indian equity markets rallied for a fourth straight session on Monday, boosted by a sharp drop in crude oil prices and foreign fund inflows amid easing geopolitical tensions.

The 30-share BSE Sensex jumped 544.39 points, or 0.70%, to settle at 78,639.03. During the day it surged 800.46 points, or 1%, to an intraday high of 78,895.10.

The Nifty surged 1.60% to close higher, extending the winning momentum across benchmark indices.

Traders said falling crude oil prices lifted sentiment, as lower input costs are seen as positive for inflation and corporate margins. Foreign fund inflows also added to the optimism in the market.

The gains marked the fourth consecutive day of advances for domestic equities.