Explained: Why stock markets are rising even as crude oil remains above $100
Indian stock markets rose on Monday despite crude oil prices staying above $100, driven by a technical rebound and buying interest in large-cap stocks. The rally was supported by global cues, including strong momentum in US technology stocks linked to artificial intelligence.
Indian stock markets rallied on Monday, with the BSE Sensex up 0.87% to 77,334.39 and the NSE Nifty 50 gaining 0.84% to 24,097.75. The gains come after recent losses, suggesting a recovery driven by bargain buying and selective optimism. All major sectoral indices were trading in the green, with Nifty Metal, Nifty Healthcare, and Nifty Realty leading the gains. The current upmove is largely a technical rebound after a sharp correction in the last few sessions. Global markets, especially in the US, have been supported by strong momentum in technology stocks linked to artificial intelligence, which has had a spillover effect on Asian markets and India. Crude oil prices remain a major concern, with Brent crude above $106-$107 per barrel and WTI around $95, reflecting ongoing geopolitical tensions and supply concerns.
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