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    Share Markets See Some Relief, Sensex Over 700 Points Up, Nifty Above 24,200 In Opening Bell

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    Indian equity markets are poised for a rebound session on Tuesday after a steep sell-off in the previous session. Both benchmark indices were trading higher in the pre-open session despite lingering concerns over the West Asia conflict and volatile crude oil prices.

    The BSE Sensex opened the trading session near 78,300, rallying more than 700 points, while the NSE Nifty50 rang the opening bell around 24,200, climbing close to 200 points, as of 9:15 AM.

    At around 9:06 AM on Tuesday, the Sensex was trading at 78,341.89 in the pre-open session, up 775.73 points or 1.00 per cent. The Nifty was quoted at 24,243.50, gaining 215.45 points or 0.90 per cent, indicating a potential recovery after Monday’s sharp decline.

    The rebound comes after domestic equities ended Monday with significant losses amid rising geopolitical tensions, surging crude oil prices and continued foreign investor selling.

    Markets Slide Sharply Amid Oil Shock

    Benchmark indices Sensex and Nifty witnessed heavy selling pressure on Monday as investors reacted to the worsening situation in West Asia and the sharp spike in global crude oil prices.

    The Sensex fell 1,352.74 points, or 1.71 per cent, to settle at 77,566.16, marking its second consecutive session of decline. During intraday trade, the index had plunged as much as 2,494.35 points, or 3.16 per cent, to hit a low of 76,424.55.

    The Nifty also ended lower, dropping 422.40 points, or 1.73 per cent, to close at 24,028.05. At one point during the session, the index had slipped 752.65 points, or 3.07 per cent, to 23,697.80.

    Market breadth remained heavily negative, with 3,379 stocks declining on the BSE, while only 972 advanced and 185 remained unchanged.

    The sharp decline in equities coincided with escalating geopolitical tensions in West Asia, which pushed crude oil prices sharply higher and triggered concerns about inflation and economic stability.

    Brent crude, the global oil benchmark, surged 12.34 per cent to $104.1 per barrel as fears of supply disruptions intensified.

    Analysts warned that higher oil prices pose a major risk for oil-importing economies like India. A sustained rise in crude prices can widen the current account deficit, fuel inflation and weaken the domestic currency.

    Rupee Hits Record Low

    The rupee came under intense pressure during Monday’s session, falling to an all-time closing low of 92.35 (provisional) against the US dollar. The currency weakened by 53 paise during the day as rising crude oil prices and a stronger dollar weighed on sentiment.

    According to market participants, the spike in oil prices and continued geopolitical tensions amplified concerns around India’s external balances and inflation outlook.

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