Indian benchmark indices Sensex and Nifty advanced in early deals on Monday following a sharp decline in crude oil prices after <a href="https://www.mid-day.com/news/world-news/article/trump-says-us-paused-iran-strike-as-talks-over-hormuz-deal-gather-pace-23642813" target="_blank" rel="none noopener">US paused military strikes on Iran</a>.
The 30-share BSE Sensex soared 619.52 points or 0.79 per cent to 78,714.16 during initial trade. The 50-share NSE Nifty surged 195.65 or 0.80 per cent points to 24,579.25.
On Friday, the Sensex gained 166.49 points, or 0.21 per cent, to settle at 78,094.64. The Nifty climbed 66.45 points, or 0.27 per cent, to end at 24,383.60.
<h2>Gainers and laggards</h2>
From the Sensex pack, ITC, InterGlobe Aviation, Infosys, Tata Consultancy Services, Bajaj Finserv were among the major winners. ITC shares were up nearly 4 per cent in the morning trade while stocks of InterGlobe Aviation, <a href="https://www.mid-day.com/business/business-news/article/infosys-q4-profit-jumps-20-8-per-cent-to-rs-8-501-crore-revenue-up-to-rs-46402-crore-23627154" target="_blank" rel="none noopener">Infosys</a>, Tata Consultancy Services were trading over 2 per cent higher in the morning trade. Sun Pharma, Maruti, NTPC, Tech Mahindra, Bharti Airtel were among the laggards. Sun Pharma lost over 1 per cent in the initial trade.
<h2>Global macroeconomic cues</h2>
"Asian markets have opened on a softer note after Friday's semiconductor-driven rally, suggesting a cautious start for regional equities. On the positive side, Brent crude has corrected nearly 4.5 per cent to around USD 84 per barrel as concerns over supply disruptions through the Strait of Hormuz eased. The decline in oil prices is a constructive development for India, as it helps ease inflationary pressures, supports the rupee, and improves the macro outlook," Rajesh Palviya, Head of Research, Axis Direct.&nbsp;
According to news agency PTI, Brent crude, the global oil benchmark, traded 4.97 per cent lower at USD 83.56 per barrel and in Asian markets,<a href="https://www.mid-day.com/business/business-news/article/semiconductor-stocks-push-seoul-shares-up-nearly-13-per-cent-23642537" target="_blank" rel="none noopener"> South Korea's KOSPI</a>, Japan's Nikkei 225 index were quoting lower, while Hong Kong's Hang Seng index traded higher. Foreign Institutional Investors (FIIs) bought equities worth Rs 277.48 crore on Friday, as per PTI.
"The decline in Brent crude to below USD 84, the good progress in monsoon in July and FIIs turning buyers are positive triggers for the market. A significant trend in the economy is that growth has been resilient despite the many headwinds which the economy has been facing. The fiscal and monetary stimulus given in 2025 is acting with a lag to sustain the growth momentum in the economy," VK Vijayakumar, Chief Investment Strategist, Geojit Investments said.
(With inputs from PTI)

Sensex climbed 619.52 points or 0.79 per cent to 78,714.16 during initial trade, while  Nifty gained 195.65 or 0.80 per cent points to 24,579.25

Sensex gains over 600 points, Nifty nearly 200 points as crude oil prices dip

Crude oil futures fall over 6 per cent amid easing tensions in West Asia

The 30-share BSE Sensex soared 619.52 points or 0.79 per cent to 78,714.16 during initial trade. The 50-share NSE Nifty surged 195.65 or 0.80 per cent points to 24,579.25

Sensex gains over 600 points, Nifty nearly 200 points as geopolitical tensions ease

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Home / Business / Business News / Article / Sensex gains over 600 points, Nifty nearly 200 points as geopolitical tensions ease