(RTTNews) - Indian shares opened on a positive note Tuesday as crude oil prices slumped nearly 10 percent on signs of possible easing oil sanctions and comments from U.S. President Donald Trump that the Iran war could be short-lived.
Trump also said he would have the U.S. Navy escort tankers through the Strait of Hormuz. Media reports suggest that the U.S. is considering coordinating sales of oil from the U.S. Strategic Petroleum Reserve.
The benchmark BSE Sensex was up 355 points, or half a percent, at 77,921 while the broader NSE Nifty index surged 109 points, or half a percent, to 24,136.
Among the top gainers, Mahindra & Mahindra, Asian Paints, UltraTech Cement and Indigo climbed 2-3 percent.
Cochin Shipyard rose 1.3 percent, Hyundai Motor India added half a percent, Motilal Oswal surged 1.7 percent, Nippon Life India jumped nearly 2 percent and Vishal Mega Mart rallied 2.5 percent after an announcement that the NSE will add them to the F&O segment from April 1, 2026.
Dixon Technologies soared 4.6 percent. The company has executed a share subscription and shareholders' agreement with HKC Overseas Limited.
Torrent Power advanced 1.6 percent after raising Rs. 2,000 crore through a private placement of non-convertible debentures.
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