Sensex jumps 765 points during early trade on sharp rally in Reliance shares, decline in oil prices

Indian equity markets opened with strong momentum on Thursday, with the benchmark Sensex index climbing 765 points during the initial trading session. The rally was primarily fueled by a significant jump in the stock price of Reliance Industries, which serves as a heavyweight constituent of the index. This movement in a single major stock often dictates the broader direction of the market, and in this case, it provided the necessary lift for the overall index to gain substantial ground early in the day.

Global factors also played a supportive role in this upward movement. A decline in international crude oil prices offered relief to Indian investors, as lower energy costs generally improve the trade deficit outlook and reduce inflationary pressures. Additionally, foreign institutional investors continued to show interest in Indian assets, with notable fund inflows adding liquidity and confidence to the market. This combination of domestic corporate strength and favorable global conditions created a robust environment for buying activity.

The positive sentiment was not isolated to India but was part of a broader trend across Asian equities. Regional markets in Asia also showed strength, which helped to bolster investor confidence in the Indian market. Traders noted that the alignment of these factors, including the performance of key stocks like Reliance and the supportive macroeconomic backdrop, contributed to the market's optimism. This early surge sets a positive tone for the rest of the trading day, although volatility can still occur as the session progresses.