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Indian Stock Market Opens Higher Amid Oil Price Fluctuations

The Indian stock market opened on a positive note on Friday, with the Sensex and Nifty showing gains. However, oil prices fell sharply after a ceasefire agreement between US and Iranian negotiators. Notably, LIC shares dropped over 50% due to a 1:1 bonus issue, which adjusted the stock price. This article delves into these developments and their implications for investors.
By Narendra Chaudhary | May 29, 2026, 10:09 IST
Indian Stock Market Opens Higher Amid Oil Price Fluctuations gyanhigyan

Market Overview


On Friday, the Indian stock market began the day with slight gains, with the Sensex rising by 0.35% to reach 75,988.51, while the Nifty opened at 23,902.15. Oil prices experienced a significant drop, reversing earlier increases, following reports that US and Iranian negotiators have agreed to prolong the ceasefire. The stock exchanges in India were closed on Thursday in observance of Eid-Ul-Adha.


In a notable development, shares of the Life Insurance Corporation of India (LIC) saw a dramatic decline of over 50%. This drop is attributed to the stock going ex-record for its 1:1 bonus issue. It's important to note that this decrease reflects an adjustment in LIC's stock price due to the bonus issue rather than an actual financial loss. A 1:1 bonus issue means that shareholders receive an additional share for each share they own, effectively doubling the total number of shares. Consequently, the stock price is adjusted downward proportionately on the ex-bonus date.


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