The clampdown of global commodity prices has improved the outlook for Indian industry, reducing operational costs and increasing profitability. The correlation between the Nifty50 index and Brent crude oil is relatively weak due to the strong influences of economic, social, and earnings data. The current market rally in India is being influenced by consistent FII inflows driven by lower Treasury yields and the weakness of the US Dollar. However, investors must evaluate if the recent decline in commodity prices is temporary or long-lasting as an extended in-equilibrium in the global economy could ultimately affect the Indian stock market.