Sensex and Nifty extended their gains on Thursday from Wednesday (File photo).
Indian shares opened higher on Thursday, extending gains from the previous session and tracking a global rally spurred by falling oil prices on expectations of a potential U.S.-Iran peace deal.
The Nifty 50 rose 0.28% to 24,398.50 as of 9:15 a.m. IST, while the BSE Sensex added 0.49% to 78,339.24, after rising 1.2% each on Wednesday.
All 16 major sectors opened higher. The broader small-caps and mid-caps gained 0.5% each.Asian equities were broadly higher, with Japan’s Nikkei breaching the 62,000 mark for the first time.The MSCI Asia ex-Japan index rose 1.4% after a report that the U.S. and Iran were nearing a deal to end the war sent Brent crude sharply lower.
Brent prices slid 7.83% to settle at $101.27 a barrel in the previous session and hovered around $102 in early Asian trade on Thursday.
Lower oil prices are positive for India, the world’s third-largest crude importer, as they ease inflationary pressures and bolster economic growth and corporate earnings.
Among individual stocks, Bajaj Auto rose 1.2% and Paytm gained 5% after reporting upbeat quarterly results.
