Sensex surges 700 points, Nifty tops 24,500 as oil prices ease

Indian stock markets opened sharply higher with Sensex gaining over 700 points as lower oil prices and positive global cues boosted investor confidence

PGurus Newsdesk

August 3, 2026

Indian equity markets opened sharply higher, with the Sensex gaining over 700 points and the Nifty crossing 24,500 as softer crude oil prices and easing geopolitical tensions boosted investor sentiment

Softer crude prices, easing geopolitical tensions and sustained foreign inflows lifted investor sentiment at the opening bell

Indian benchmark equity indices opened the week on a strong note, with the BSE Sensex surging more than 700 points and the Nifty 50 reclaiming the 24,500 mark, buoyed by easing geopolitical tensions, a sharp decline in crude oil prices and sustained foreign investor buying.

The Sensex opened at 78,883.34, significantly higher than its previous close of 78,094.64, while the Nifty started the session at 24,572.70, compared with Friday’s close of 24,383.60. During early trade, both indices held on to strong gains as buying remained broad-based across sectors.

Softer crude boosts market sentiment

The rally was largely driven by a steep fall in global crude oil prices following signs of easing tensions in the Middle East. Lower crude prices are viewed as a positive for India, which imports the majority of its oil requirements, as they help ease inflationary pressures and improve the country’s fiscal outlook.

Multiple factors fuel rally

Apart from softer oil prices, investors were encouraged by positive global market cues, continued foreign portfolio investor (FPI) inflows, healthy first-quarter corporate earnings and improved liquidity conditions. Falling bond yields also added to the positive sentiment, making equities more attractive.

Metal stocks lead gains

Sectorally, the rally was broad-based, with Nifty Metal emerging as the top-performing index during early trade. Banking, financial services, auto and broader market indices also traded firmly in positive territory, reflecting strong investor confidence.

Investors watch global developments

Market participants will continue to monitor developments in the Middle East, movements in crude oil prices, foreign fund flows and the ongoing corporate earnings season, all of which are expected to influence trading sentiment in the coming sessions.

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