Sensex up 654 points, Nifty up 191 on falling crude, rising global markets

• The US markets trended higher after the UK reversed the course on its economic plan.
• Crude oil prices continued to fall with the price of Brent crude oil at $91.98 per barrel.
• On the domestic front, markets remained focused on the second quarter earnings announcements.

Indian benchmark indices were buoyed by well-performing global markets, along with fall in crude oil prices.

The US markets trended higher after the UK reversed the course on its economic plan. Its new finance minister scrapped unfunded tax cuts, which had pulled the markets into turmoil. Bank of America reported too solid quarterly results, which boosted investor sentiment.

Adding to it, crude oil prices continued to fall with the price of Brent crude at $91.98 per barrel.

Sensex gained 654 points to 59,066, while Nifty50 went up by 191 points to 17,503 in early trade.

On the domestic front, markets remain focused on the announcements of the second quarter earnings of companies. So far, IT behemoths have announced healthy results indicating a positive economic growth.

ICICI Lombard, Gujarat Fluorochemicals, Tata Communications, KPIT Technologies, Mahindra CIE, HFCL, and L&T Technology Services are among companies that will announce their quarterly earnings today.

Most sectoral indices were up with auto, IT and metals company stocks among top gainers.

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