Indian Shares Hit Eight-month High Amid Sharp Fall In Oil Prices
(RTTNews) - Indian shares rose sharply on Wednesday to hit an eight-month high, with investor sentiment boosted by continued foreign fund inflows, a moderation of the AI trade, and a retreat in crude oil prices to two-month lows on hopes for a de-escalation in the U.S.-Israeli war on Iran.
Global oil prices have tumbled more than $20 a barrel since late October 2026 as mediation efforts along with the Democratic sweep of Congress in the U.S. midterm elections stripped out much of the geopolitical risk premium.
Benchmark indexes Sensex and Nifty both hit their highest levels since February 27 before paring some gains amid heightened concerns about further interest-rate hikes in the U.S. and reports of continued attacks on oil tankers in the Strait of Hormuz and neighboring waterways.
The 30-share BSE Sensex closed up 772.75 points, or 0.95 percent, at 81,879.40 after hitting a high of 82,520 earlier in the session.
The NSE Nifty index hit an intraday high of 25,424 before finishing up 210.40 points, or 0.84 percent, at 25,255.05.
The BSE mid-cap and small-cap indexes surged around 1.1 percent each.
The market breadth was positive on the BSE, with 2,909 shares rising while 1,595 shares fell and 208 shares closed unchanged.
Among the top gainers, Mahindra & Mahindra soared 5.3 percent ahead of analyst meetings in Mumbai and Singapore.
Indigo rallied 4.4 percent on falling crude oil prices in international markets.
HDFC Bank, Kotak Mahindra Bank, Asian Paints, SBI, Power Grid Corp, Bharti Airtel, Maruti Suzuki India, Axis Bank, ITC, Tata Steel and Trent surged 2-3 percent.
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