Indian stock markets opened higher on Thursday as crude oil prices eased towards the $70-per-barrel mark, with tankers resuming their exit from the Strait of Hormuz following an initial peace deal between the US and Iran.
The Sensex began the session 400 points higher, or 0.52 per cent, at 77,391.07, while the Nifty opened at 24,125.85, up more than 100 points or 0.43 per cent.
Broad-based buying was seen across most sectoral indices, with Nifty Realty and Nifty Auto leading the gains, rising up to 1 per cent. Other sectors trading in the green included Nifty PSU Bank, Nifty IT, Nifty Pharma, Nifty Oil & Gas, Nifty FMCG and Nifty Private Bank.
Nifty Metal was the only major sectoral laggard, slipping 0.56 per cent in early trade.
Among Nifty constituents, Hindalco Industries, Eternal, Bharat Electronics, Power Grid Corporation, ONGC, Infosys, Titan, Tata Steel, JSW Steel, ITC, Asian Paints and Coal India were among the top losers during the opening session.
Broader markets also witnessed strong buying interest. Nifty Microcap 250 gained 0.87 per cent, while Nifty Midcap 100 rose 0.63 per cent. Nifty Midcap 50 advanced 0.61 per cent and Nifty Smallcap 500 climbed 0.59 per cent.
India VIX, often referred to as the market’s fear gauge, declined nearly 3 per cent to 13, signalling a reduction in market volatility and improving risk appetite among investors.
In the commodities market, international benchmark Brent crude fell about 2 per cent to around $72 a barrel.
US West Texas Intermediate (WTI) crude also extended losses, dropping 1.83 per cent to trade below the $70-per-barrel mark.
-IANS
