Indian equity markets started Thursday’s trading session on a positive note, with the benchmark Sensex gaining more than 200 points and the Nifty 50 moving closer to the 24,000 mark. Investors showed renewed buying interest after three consecutive sessions of losses, although concerns surrounding the ongoing US-Iran conflict and elevated crude oil prices continued to keep sentiment cautious.
The BSE Sensex opened around 207 points higher at 76,777.66, while the NSE Nifty 50 advanced about 54 points to 23,968.45 in early trade. Financial stocks led the initial recovery, with banking and other financial counters witnessing strong buying interest.
Oil Prices Remain a Key Market Trigger
Crude oil remained one of the biggest factors influencing investor sentiment. Brent crude was trading around $95.30 a barrel, while US West Texas Intermediate crude was near $90.82. Although prices remained elevated, their relative stability provided some relief to investors worried about the impact of the US-Iran conflict on global energy supplies.
For India, higher crude prices are particularly important because the country relies heavily on imported oil. A sustained rise in crude can increase the import bill, put pressure on inflation and potentially affect corporate profitability and economic growth.
Banking Stocks Lead Early Gains
Banking and financial stocks were among the strongest performers in early trading. Adani Ports gained about 1.30%, while SBI and Axis Bank advanced around 1% each. ICICI Bank also traded higher, supporting the broader market rebound.
The recovery comes after Indian benchmarks declined for three consecutive sessions, with rising crude prices, global bond yields and geopolitical uncertainty weighing on investor confidence.
Global Cues Offer Some Support
Global markets provided a relatively supportive backdrop. US equities ended higher in the previous session, while several Asian markets also traded positively. South Korea’s Kospi was among the notable gainers, rising more than 1.6%.
US Treasury yields, however, remained elevated, reflecting continued concerns over inflation and interest rates. Investors will therefore remain sensitive to global economic data and central-bank signals.
What Investors Should Watch
Market participants will closely track developments in the US-Iran conflict, crude oil movements, foreign fund flows and global bond yields during Thursday’s session. Recent foreign investor activity has also provided some support to Indian equities.
The early gains represent a recovery rather than a complete shift in the market trend. With geopolitical risks and oil prices still elevated, volatility could remain high.
For now, traders will watch whether the Sensex can sustain its gains above the 76,700 level and whether the Nifty can reclaim and hold the 24,000 mark. A sustained move above these levels could improve near-term sentiment, while renewed selling in crude or global markets could quickly pressure Indian equities.
