Domestic equity indices opened sharply higher on Monday, tracking a steep fall in crude oil prices on hopes of a U.S.-Iran deal. The Sensex jumped 1.14% to 76,275 while the Nifty 50 zoomed 1.06% to 23,980, with all sectoral indices trading in green.
Improved global risk sentiment and easing energy concerns gave investors confidence. Auto, PSU bank, and oil & gas shares led the rally.
Broader markets outpace the benchmark
The BSE 150 MidCap Index added 0.88% while the BSE 250 SmallCap Index jumped 1.02%. Market breadth was robust, with 2,479 shares rising against 864 falling on the BSE. Volatility fell sharply: the India VIX tanked 4.91% to 17.03.
Fuel prices hit consumers for the fourth time in 10 days
Petrol and diesel rose again on Monday—the fourth hike in just 10 days. Prices climbed an average ₹2.80 per litre, pushing Delhi petrol to ₹102.12 and diesel to ₹95.20. In Mumbai, petrol traded at ₹111.21 and diesel at ₹97.83. The cumulative surge has now hit nearly ₹7.5 per litre in less than two weeks, heaping pressure on transport costs and inflation.
Rupee firms as oil tanks
In forex, the rupee edged higher to 95.36 from 95.60, while the dollar index fell 0.20% to 99.04. Brent crude for July fell 6.01% to $97.32 a barrel—the sharpest drop in months on Strait of Hormuz reopening hopes.
Trump says deal moving constructively
U.S. President Donald Trump said Iran negotiations were proceeding “in an orderly and constructive manner” and instructed his representatives “not to rush into a deal.” Oil prices plunged over 5% on the news. West Texas Intermediate fell 4.47% to $92.28 while Brent fell 4.13% to $99.26.
Wall Street ends the week on gains
The Dow Jones gained 294 points or 0.58% to 50,579.70, touching an intraday record high. The S&P 500 rose 0.37% to 7,473.47 while the Nasdaq Composite advanced 0.19% to 26,343.97.
Q4 earnings take centre stage
With earnings season officially underway, investors will parse whether corporate numbers can justify current valuations—especially for midcaps and smallcaps that have already re-rated sharply. Management commentary on capex and rural demand revival will be closely watched as the market hunts for proof that optimism around Q4 GDP growth can be sustained.
