Sensex-Nifty
Sensex, Nifty rally as oil prices ease and election results drive sentiment
Indian equity markets opened on a positive note after the long weekend, with benchmark indices Sensex and Nifty trading firmly in the green amid the ongoing counting of Assembly election votes in four states and a Union Territory on Monday.
By 1:15 pm, the Sensex was up 365 points at 77,279.21, while the Nifty gained 109 points to trade at 24,107.45.
Market sentiment was supported by easing crude oil prices, while investors also tracked political developments, particularly in West Bengal, where early trends indicated a strong performance by the Bharatiya Janata Party, raising expectations of a possible return to power in the state.
Also Read: LIVE BLOG: Assembly Election Results—High-Stakes Bengal in Focus as Counting Underway
According to Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, short-term market movements are likely being influenced by election-related sentiment, especially developments in West Bengal.
However, he cautioned that such effects would be temporary, adding that broader market direction would remain driven by crude oil price movements, which are in turn shaped by geopolitical developments in West Asia.
He noted that U.S. President Donald Trump’s recent statement on American support for safeguarding shipping through the Strait of Hormuz had helped ease concerns, pulling Brent crude down to around the $108 per barrel level.
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