Stock Surge: Crude Oil Sector Rebounds Amid Ceasefire Announcement
Crude oil sector shares, including oil marketing companies, aviation, and others, saw a boost due to a drop in Brent crude oil prices following a ceasefire announcement by US President Trump. Key stocks in the sector rallied, and markets responded positively to stabilizing geopolitical tensions.
- Country:
- India
Shares of sectors sensitive to crude oil prices, such as oil marketing companies and aviation, experienced a significant surge on Tuesday. This rebound occurred after a notable correction in Brent crude oil prices.
Hindustan Petroleum Corporation Ltd's stock climbed 3.24%, Indian Oil Corporation rose 2.04%, and Bharat Petroleum Corporation Ltd increased by 1.92% on the BSE.
The stock market reaction follows a ceasefire announcement by US President Donald Trump, signaling a potential easing of geopolitical tensions. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted the positive response of the market to the sharp decline in crude oil prices.
(With inputs from agencies.)
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