Sensex rises 400 pts, Nifty above 23,750: Easing crude prices among key factors behind market gain
At around 9:30 a.m., the Sensex was up 309.27 points or 0.41 percent to 75,624.31, while the broader Nifty advanced to 23,731.85, up 81.90 points or 0.35 percent.
Stock Market Today News: Sensex, Nifty rise in trade.
The equity benchmark indices traded higher on Tuesday, after U.S. President Donald Trump signalled a possible nuclear deal with Iran, reviving hopes of a de-escalation of the three-month-old war.
At around 9:30 a.m., the Sensex was up 309.27 points or 0.41 percent to 75,624.31, while the broader Nifty advanced to 23,731.85, up 81.90 points or 0.35 percent.
Key factors behind the market rise
1) Decline in crude prices: Brent crude futures declined more than 2 percent to USD 109.41 a barrel following Trump’s remarks on Iran.
2) Easing geopolitical concerns: Trump said he called off a planned attack on Tehran after it sent a peace proposal, and that there was now a “very good chance” of reaching a deal limiting Iran’s nuclear program.
3) FII inflows: FIIs purchased Rs 2,813.69 crore on Monday. This is the third straight session of buying by the foreign institutional investors.