Rise in Indian stock market, Nifty crosses 24,100, investors benefited from falling crude oil prices.

Good recovery was seen in the Indian stock market on Monday. Investors were happy with the expectation of easing tension in West Asia and fall in crude oil prices in the global market. Due to this, Nifty crossed the level of 24,100 and Sensex also registered a good rise.

Key market figures

This rise in the market was mainly due to decreasing tensions in West Asia and falling crude oil prices. Investors viewed the reduction in regional volatility as a positive. Apart from this, strengthening of rupee and reduced selling by foreign investors (FPIs) also supported the market.

Talking about sectors, Nifty Media, Nifty Pharma, Nifty IT, Nifty Metal, Nifty PSU Bank, Nifty Auto and Nifty Realty were the top performers. However, Nifty FMCG and Nifty Consumer Durables indices closed with losses.

expert opinion

Vinod Nair, head of research at Geojit Investments, said the market took a positive stance as investors were keeping an eye on the talks between the US and Iran. He cautioned that the slow pace of monsoon may affect farming and consumer demand. Meanwhile, Chief Investment Strategist VK Vijayakumar said that Brent crude being below $80 indicates that there is little possibility of the conflict escalating further. Market strategist Anand James has set a target of 24,300 to 24,600 for Nifty.

international events

Qatar and Pakistan said in a joint statement that initial rounds of talks have been successful for a comprehensive agreement within the next 60 days. On the other hand, US Vice President JD Vance held direct talks with Iranian officials under the peace agreement, although US President Donald Trump had warned of another attack on Iran. Iran says America has failed to fulfill its promise to stop fighting in Lebanon.