Stock markets rally in early trade as crude oil prices decline further

MUMBAI: (Jul 2) Market benchmark indices Sensex and Nifty rallied in early deals on Thursday amid softening crude oil prices following positive development on the geopolitical front and buying in blue-chip IT stocks.

The 30-share BSE Sensex climbed 377.40 points to 77,269.54 early trade. The 50-share NSE Nifty rallied 106.70 points to 24,113.25.

“Qatar has stated that the latest round of indirect US–Iran talks has made ‘positive progress’, keeping hopes of a broader diplomatic resolution alive,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.