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Sensex Surges 600 Pts, Nifty Nears 22,600 on Easing Crude Prices, Global Cues
M
Moneycontrol•05-10-2026, 09:33
Sensex Surges 600 Pts, Nifty Nears 22,600 on Easing Crude Prices, Global Cues
- •Indian benchmark indices Sensex and Nifty opened with a significant gap-up on October 5, driven by easing crude oil prices and positive global market sentiment.
- •Crude oil prices slipped due to increased exports from the Middle East and a release of oil stocks by G7 nations, reducing supply concerns.
- •Positive Q4 results from Accenture boosted IT stocks, with TCS and Infosys trading over 1.5% higher, signaling strong demand for IT consulting services.
- •Global markets saw a strong start as investors trimmed bets on aggressive US Federal Reserve policy tightening after cooler-than-expected US jobs data, making a rate hike less likely.
- •HDFC Bank shares rose 1.5% following the appointment of Anup Bagchi as its new CEO, marking the first time an external candidate will lead the institution.
Key Questions Answered
Benchmark indices opened higher due to easing crude oil prices, positive global cues following cooler US jobs data, and strong IT sector gains sparked by Accenture's Q4 results.
Anup Bagchi has been appointed as HDFC Bank's new chief executive for a three-year term, marking the first time an external candidate will lead the institution.
Oil prices slipped as Middle East crude exports rose and G7 nations agreed to release 100 million barrels of diesel and crude from emergency reserves.
