Indian markets defy global gloom! Sensex, Nifty extend winning streak for fifth straight session

At the opening bell, the BSE Sensex rose over 200 points to 78,504.01, while the NSE Nifty 50 gained 0.2 percent to 24,488.

Crude oil prices remain elevated

Global crude oil prices remained firm after easing in the previous session.

Brent crude traded above $72 per barrel, while West Texas Intermediate (WTI) hovered around $69 per barrel.

Asian markets trade lower

Asian markets opened lower on Tuesday as investor sentiment remained cautious amid concerns over oil shipments through the strategically important Strait of Hormuz, a key global energy trade route.

Indian equities have remained resilient in recent sessions, supported by sustained foreign institutional investor (FII) inflows, easing domestic inflation, and optimism over India's economic growth outlook.

However, global markets continue to face uncertainty due to geopolitical tensions in the Middle East, with investors closely tracking developments around the Strait of Hormuz, through which nearly a fifth of the world's oil supply passes.

Any disruption to shipping through the waterway could push crude prices higher, stoke inflationary pressures, and weigh on equity markets worldwide.

Central bank policy signals, global trade developments, and quarterly corporate earnings are also expected to influence market sentiment in the coming weeks.