Indian indexes hit seven-week highs as crude oil prices ease
The Sensex rose 1.66% to close at 75,692.78 and the Nifty topped 23,400, according to market data cited by Moody's.
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what happened
Indian equities extended their recovery on Monday. The 30-share Sensex gained 1,233.25 points, or 1.66%, to close at 75,692.78, its highest close since September 7. The 50-share Nifty rose 1.68% to finish at 23,440.80, its strongest close in more than five weeks. Strong buying in Reliance Industries after its earnings report and lower crude oil prices supported the gains.
On Wall Street, the main indexes reversed early gains on Monday as technology stocks came under renewed selling pressure. The Nasdaq Composite fell 715 points from its intraday high, while the S&P 500 closed 0.5% lower. The Dow Jones Industrial Average managed to close 200 points higher. In South Korea, the Kospi opened sharply lower on Tuesday, down 3.36% at 5,662.37, amid worries about heavy spending on artificial intelligence infrastructure. Taiwan's Taiex fell 1.21%.
why it matters
The rise in Indian stocks on cheaper oil matters for energy importers, which gain when raw material prices fall. The simultaneous tech sell-off in the US and Korea shows investors remain cautious ahead of the US midterm elections.
market impact
Indian stocks: cheaper oil supports the market; US and Korean tech: pressure from AI spending worries
- Indian stocks (Sensex, Nifty) pressure up — lower crude oil prices and buying in Reliance support the indexes
- US tech stocks pressure down — sector sell-off after concerns over AI spending
instruments
sources
- Stock market outlook today, 3 Nov: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Taiwan cues — Moody's, 3 November 2026 at 04:20 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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