Stock Market
Sensex soars nearly 300 points! Here's what's fueling the market rally
Mumbai/IBNS: The Indian stock market opened on a positive note on Thursday, with the BSE Sensex rising 0.4 percent and the NSE Nifty 50 gaining 0.36 percent in early trade, according to media reports.
Sensex jumps nearly 300 points
The Sensex climbed nearly 300 points at the opening bell, while the Nifty edged closer to the 24,100 mark.
Oil price decline lifts market sentiment
The market rallied for the second consecutive session as crude oil prices continued to soften.
Investor confidence improved amid easing concerns over global oil supplies, with traders reassured about the continued flow of crude through the Strait of Hormuz following progress in peace talks between the United States and Iran.
Crude prices
Brent crude for September delivery was trading near $71 per barrel, while West Texas Intermediate (WTI) hovered around $68 per barrel.
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