Indian Shares Surge As Oil Prices Slump
(RTTNews) - Indian shares opened on a buoyant note on Thursday, extending gains for a sixth consecutive session as global bond yields eased and Brent crude prices plummeted to $94 a barrel on hopes that the U.S.-Iran war could end soon.
Democrats' sweeping victory in the U.S. midterm elections along with diplomatic signals from Washington and Tehran have helped strip the risk premium out of crude.
The 30-share BSE Sensex was up 1,633 points, or 2.1 percent, at 78,934 in early trade, while the NSE Nifty index soared 475 points, or 2 percent, to 24,435.
Among the top gainers, Asian Paints, Indigo, Maruti Suzuki India and Bajaj Finance jumped 4-5 percent.
Bharti Airtel, LIC, Titan and Mahindra & Mahindra were moving higher ahead of their quarterly results due today.
Lenskart Solutions soared 5 percent after Q2 profit more than doubled.
Torrent Power advanced 1.7 percent on reporting a 13 percent rise in quarterly net profit.
Adani Power rose 1.6 percent. The company has entered into a 25-year power supply agreement with Uttarakhand Power Corporation Limited.
Nykaa tumbled 3 percent despite the company reporting a more than threefold jump in Q2 net profit.
Dabur India fell 2 percent despite reporting a 12 percent year-on-year rise in quarterly net profit.
European Shares Seen Mostly Higher In Cautious Trade
Australian Market Extends Early Gains In Mid-market
Asian Markets Track Wall Street Higher
Indian Shares Set To Extend Gains On Firm Global Cues
Thai Stock Market Tipped To Open In The Green
Japanese Market Notably Higher
Higher Open Called For Indonesia Stock Market
