Indian stock markets continued their upward momentum for the fourth straight day on Wednesday, fueled by a decline in global crude oil prices that boosted investor sentiment. The benchmark BSE Sensex climbed 350 points, while the NSE Nifty moved closer to the 24,000 mark.
Market Movers
Among the 30 Sensex constituents, Trent emerged as the top gainer, surging by 7.06 per cent. Other notable winners included Bharat Electronics, Eternal, Tata Steel, Infosys, Titan, and Bharti Airtel, which contributed significantly to the index's rise.
Crude Oil Impact
The rally was primarily driven by easing crude oil prices, which fell over 2 per cent in international markets. Lower oil prices are beneficial for India, a major importer, as they reduce inflationary pressures and improve corporate margins.
Market analysts attributed the positive trend to a combination of falling oil prices and strong buying in heavyweight stocks. The broader market also saw gains, with midcap and smallcap indices rising in tandem.
The rally extended gains from the previous sessions, marking a recovery after a period of volatility. Investors are now eyeing global cues and domestic economic data for further direction.
