Hello and welcome to our live coverage on stock markets:
The Nifty 50 opened 23.30 points higher at 23,437.60. The Sensex gained 132.59 points, or 0.18%, to open at 74,991.58.
Asian markets were mostly higher in early trading. Japan’s Nikkei 225 advanced 1.38%, while South Korea’s KOSPI rose 1.87%. Australia’s S&P/ASX 200 added 0.11%, while the Shanghai Composite was little changed.
The gains across the region followed a strong US session, where renewed interest in artificial intelligence stocks pushed major Wall Street indices higher. The S&P 500 rose 1.5%, its biggest single-session gain since Aug. 4. The Nasdaq Composite climbed 2.3% and reached its first closing high since June. The Dow Jones Industrial Average gained 366 points, or 0.7%.
US semiconductor stocks were among the main drivers of the technology rally, with an index tracking the sector gaining more than 4%. Meta rose 11%, while Advanced Micro Devices crossed the $1 trillion market-capitalisation threshold. The Nasdaq 100 gained 2.8%.
Crude prices were also being watched after a steep decline in the previous session. Brent crude traded around $100 a barrel after falling 3.4%, while West Texas Intermediate declined 4.5% to $95.78 a barrel. Brent settled more than 3% lower at $100.34 a barrel.
The fall in oil prices came as concerns over supplies from the Middle East eased. Investors were also assessing diplomatic efforts to end the US-Iran conflict. Saudi Arabia’s oil loadings from the Persian Gulf increased over the weekend, with the number of vessels at its main Gulf port reaching its highest level since June, according to satellite data.
US President Donald Trump told Fox News he would “probably” consider meeting Iranian President Masoud Pezeshkian on the sidelines of the UN General Assembly in New York this week.
The Wall Street Journal reported separately that the Trump administration had proposed a $5 billion fund to help Middle Eastern countries rebuild energy infrastructure damaged during the Iran war.