Indian Shares Climb 0.4% as Brent Drops Below $80 and Reliance, IT Rebound
Updated
Updated · Reuters · Jun 22
Indian Shares Climb 0.4% as Brent Drops Below $80 and Reliance, IT Rebound
2 articles · Updated · Reuters · Jun 22
Summary
Nifty 50 rose 0.37% to 24,102.90 and Sensex added 0.38% to 77,094.07, extending gains as Reliance Industries and IT stocks lifted the market.
Brent crude fell 1.9% below $80 a barrel after U.S.-Iran talks reported progress toward a final deal within 60 days, easing worries over Strait of Hormuz disruptions.
Reliance gained 1.3% after its annual general meeting, with brokerages pointing to Jio Platforms, AI and new energy businesses as growth drivers; the IT index rebounded about 0.75% after Friday's 3.7% slide.
Foreign investors bought $515.2 million of Indian equities on Friday—their biggest daily purchase since early February—even after record year-to-date outflows of $30.6 billion.
Thirteen of 16 major sectors advanced, while small-caps rose 0.6% and mid-caps 0.3%, suggesting broader risk appetite is improving if oil stays contained and peace talks hold.