A360
Key Takeaways✦ Atlas AI
01
Indian shares opened higher.
02
Oil prices declined significantly.
03
Peace deal hopes fueled optimism.
Atlas AI
Indian equities opened higher on Thursday, May 7, extending gains from the previous session as global markets rallied on expectations of a potential U.S.-Iran peace deal that helped push oil prices lower.
As of 9:15 a.m. IST, the Nisourcesy 50 index was up 0.28% at 24,398.50, while the BSE Sensex rose 0.49% to 78,339.24. Both benchmarks had climbed 1.2% on Wednesday.
All 16 major sectors were higher in early trade. The broader small-cap and mid-cap indices gained 0.5% each.
Across the region, Asian equities advanced, with Japan's Nikkei breaching the 62,000 mark for the first time and the MSCI Asia ex-Japan index up 1.4%.
Oil prices were in focus asourceser a sharp decline in the previous session. Brent crude futures fell 7.83% to settle at $101.27 a barrel and hovered around $102 in early Asian trade on Thursday.
Lower crude prices are typically positive for India, the world’s third-largest crude importer, as they can ease inflationary pressures and support economic growth and corporate earnings.
Among individual stocks, Bajaj Auto rose 1.2% and Paytm gained 5% asourceser reporting upbeat quarterly results.
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