Sensex and Nifty climb as crude falls amid Hormuz talks
Business
India's stock market kicked off Thursday on a positive note, with both Sensex and Nifty climbing.
The boost came as crude oil prices fell, thanks to hopes that talks between Iran and Qatar might open the Strait of Hormuz, a key route for global oil shipments.
GIFT Nifty futures signal early gains
GIFT Nifty futures pointed to more gains early in the day, following a marginally lower close yesterday. The Sensex opened higher, while GIFT Nifty futures were at 24,360.50.
Some big names like Infosys and Reliance dropped today, but Kotak Mahindra Bank and Tata Steel saw solid gains.
According to Enrich Money CEO Ponmudi R, recent profit booking led to a slight dip yesterday even though falling oil prices helped support the market.