Sensex and Nifty rise 0.5% in India as VIX drops
The Indian stock market kicked off Thursday on a high note, with Sensex and Nifty both up by 0.5%.
Early gains popped up in sectors like oil marketing, automobiles, and aviation.
Plus, the Volatility Index dropped over 2%, hinting that investors are feeling more confident.
Brent slips below $77 boosting markets
Falling crude oil prices gave markets a boost: Brent crude slipped below $77 per barrel, easing some economic pressure.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited pointed to less foreign investor selling and a stronger rupee (up 35 paise to ₹94.30 against the US dollar) as reasons for the positive vibe.
Optimism also got a lift from news that a U.S.-India trade agreement is "very, very close," according to a senior US official.
Asian markets joined in too, with South Korea's Kospi jumping over 5% and Japan's Nikkei rising more than 1%.