Share Markets Rally As Crude Hits Multi-Month Lows, Sensex 200 Points Up, Nifty Nears 24,100

Summary

Indian equity benchmarks have started the day on a positive note, with the BSE Sensex climbing more than 200 points to trade above 77,100, and the NSE benchmark Nifty50 nearing 24,100. This rally comes as crude oil prices have hit multi-month lows, with Brent crude trading near 71 dollars per barrel and WTI crude slipping below 68 dollars per barrel. The lower crude prices are providing a supportive backdrop for oil-importing economies like India, and domestic investors are taking comfort from this, despite weakness in overseas markets.