Mumbai, India (BBN)-Rebound in oil prices propped up equities worldwide and saw the Nifty and the Sensex open and trade deep in the green.
The Nifty opened 60 points up at 7,989, while the Sensex opened 163 points up at 25,928, reports The Hindu Business Line.
A report by SMC Global said: “Asian stocks rose today in the wake of solid gains in US markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan.US equities closed higher on Monday, led by energy stocks, as oil prices rose on renewed optimism that OPEC was closing in on a deal to cut production. Real gross domestic product of the member countries of the Organization for Economic Cooperation and Development (OECD) area picked up markedly in the third quarter, data showed. GDP growth doubled to 0.6 per cent from 0.3 per cent in the second quarter as growth accelerated in most major seven economies, with the exception of the UK and Germany, where growth slowed in the third quarter, the OECD said. In the United States, growth improved to 0.7 per cent from 0.4 per cent in the previous quarter.”
All the broader and sectoral indices were trading in the green.
Volatility was a tad down with the India Vix quoting at 19.0375.