Opening Bell: Nifty 50 Rallies 156 Points as Crude Oil Plunges 7.44% After U.S.-Iran Strike Pause

Indian equity markets opened higher on Monday as a sharp decline in crude oil prices boosted investor sentiment after the U.S. and Iran paused their military strikes, raising hopes of diplomatic discussions and easing geopolitical concerns.

As of 9:17 AM, the Nifty 50 was trading 156 points, or 0.65 per cent, higher at 23,923.05, while the Sensex gained 537 points, or 0.71 per cent, to trade at 76,596.31.

InterGlobe Aviation, Tata Consumer Products and Eternal were among the Top Gainers on the Nifty 50 index during early trade. Broader markets also witnessed buying interest, with the Nifty MidCap index rising 0.98 per cent and the Nifty SmallCap index gaining 0.86 per cent.

Crude oil prices declined sharply amid easing tensions in the Middle East. Oil prices fell 7.44 per cent to the day’s low of USD 89.58 per barrel after the U.S. and Iran paused military strikes following two weeks of hostilities. The development raised expectations of diplomatic engagement and reduced concerns over supply disruptions.

The July crude oil futures contract on the Intercontinental Exchange was trading at USD 92.65 per barrel, down 4.27 per cent, reflecting improved market sentiment following the de-escalation.

Disclaimer: The article is for informational purposes only and not investment advice.