Punjab Newsline | New Delhi
Indian stock market traded higher on Thursday, October 15, with the Sensex rising around 1,000 points, or 1.40%, to 73,800. The Nifty 50 also gained 280 points, or 1.25%, to cross the 22,900 mark.
Buying was seen in IT and FMCG stocks, while public sector bank shares faced selling pressure.
The market rally came amid a decline in international crude oil prices. West Texas Intermediate (WTI) crude fell 1.05% to $94 per barrel, while Brent crude declined 1.63% to $104 per barrel.
Lower crude oil prices are expected to provide relief to India by reducing its oil import bill and easing pressure on the economy. As one of the world's major oil-importing countries, India benefits from a sustained decline in global crude prices, which can help reduce import costs and inflationary pressures.
The fall in oil prices supported investor sentiment, contributing to gains in the domestic equity market.
