Indian equity markets started the week on a strong note after US President Donald Trump announced a US-Iran agreement to reopen the Strait of Hormuz and ease regional tensions, with the Sensex surging 1,200 points, or 1.6 per cent, to 76,725.27 and the Nifty rising 360 points, or 1.53 per cent, to 23,984.85 at the opening bell.
The rally reflected growing optimism among investors following signs of stability in the Middle East and a sharp decline in crude oil prices.
Most sectoral indices traded in positive territory. Nifty Realty emerged as the top performer with a gain of 2.59 per cent, followed by Nifty Cement at 2.46 per cent and Nifty Auto at 1.92 per cent.
Consumer Durables, Oil & Gas and PSU Bank stocks also registered strong gains.
In contrast, healthcare stocks remained under pressure, with Nifty Pharma and Nifty Healthcare posting marginal losses.
Market experts said easing geopolitical tensions and lower energy prices have improved the outlook for the Indian economy.
Lower crude oil prices are expected to support economic growth and ease inflationary pressures.
Brent crude fell nearly 5 per cent to around $83 per barrel, while WTI crude dropped to about $80 per barrel, boosting investor confidence.
Global markets also rallied, with Japan’s Nikkei and South Korea’s KOSPI gaining over 5 per cent.
Trump said the agreement would promote regional peace and reopen the Strait of Hormuz, a move investors believe could improve global energy stability.
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