Stock markets surge for second day as oil drops below $100 per barrel
Indian stock market indices Sensex and Nifty recorded a second consecutive day of gains, driven by a drop in global crude oil prices below $100 per barrel. Major gains in banking and retail stocks helped offset the impact of foreign institutional investor outflows.
Why it matters
The decline in oil prices provides relief to India's import-heavy economy, signaling a potential reduction in macroeconomic pressure and improved investor sentiment.
Market benchmark indices Sensex and Nifty ended sharply higher on Tuesday (October 6, 2026), extending their previous session's rally, as a decline in crude oil prices below the $100 per barrel mark and buying in bank stocks and Reliance Industries added to investors' optimism.
The 30-share BSE Sensex jumped 685.34 points, or 0.95%, to settle at 73,067.81. The 50-share NSE Nifty climbed 220.35 points, or 0.98%, to end at 22,776.10.
Among the 30 Sensex firms, Trent surged the most, up 12.78%. Kotak Mahindra Bank, Hindustan Unilever, Reliance Industries, InterGlobe Aviation, Eternal and Asian Paints were also among the winners.
Tech Mahindra, Titan, Bajaj Finance and ITC were among the laggards. Brent crude, the global oil benchmark, tanked 1.70% to $98.59 per barrel.
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