Indian markets extend winning streak on improving monsoon and softer crude oil prices

Indian markets extend winning streak on improving monsoon and softer crude oil prices as domestic benchmarks gained in early trade on July 7. The BSE Sensex opened at 78,380.69 points, up 95.62 points (0.12%), while the NSE Nifty 50 started at 24,455.65 points, up 25.30 points (0.10%). The rise followed a broad rally in international markets, particularly the US, where the Nasdaq climbed 288.49 points (1.12%) to 26,121.16 and the S&P 500 gained 0.72% to 7,537.43. Analysts cited improving monsoon progress and lower crude oil prices as domestic tailwinds. Ajay Bagga said GIFT Nifty suggested bulls remained in control, while Shrikant Chouhan (Kotak Securities) flagged upside levels for Nifty toward 24,500–24,600 and Sensex 78,500–78,800. He warned that if the market slips below 24,350/78,000, a quicker intraday correction could drag Nifty to 24,200–24,250 and Sensex to 77,300–77,500. In commodities, Brent was $72.46 per barrel and crude oil $68.96, while gold fell to $4,132.42.