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Indian stock markets surged in early trade on Monday, with the Sensex gaining more than 1,100 points and the Nifty nearing 24,000, as a reported US-Iran peace breakthrough triggered a global rally and pushed oil prices sharply lower
Indian equity benchmarks rallied sharply in early trade on Monday, with the Sensex soaring more than 1,100 points and the Nifty 50 reclaiming the 24,000 mark, as investors cheered reports of a diplomatic breakthrough between the United States and Iran that could restore traffic through the Strait of Hormuz and ease concerns over global energy supplies.
At 9:17 am, the BSE Sensex was trading at 76,669.26, up 1,141.31 points or 1.51 per cent, while the NSE Nifty 50 gained 347.50 points, or 1.47 per cent, to 23,970.40. The rally mirrored gains across Asian markets after oil prices tumbled on expectations that a peace agreement would reduce disruptions to crude shipments from West Asia.
The upbeat sentiment followed comments from US President Donald Trump and Iran’s deputy foreign minister indicating that an initial agreement had been reached to end hostilities and reopen the Strait of Hormuz, a vital artery for global oil trade. Pakistani Prime Minister Shehbaz Sharif, whose country reportedly mediated the talks, said the two sides would sign a memorandum of understanding in Switzerland later this week.
Brent crude futures fell more than 4 per cent to around $84 a barrel, their lowest level since March, as traders priced in the prospect of uninterrupted oil flows from the Gulf region.
The decline in oil prices is particularly significant for India, the world’s third-largest crude oil importer. Lower energy costs help ease inflationary pressures, reduce the import bill and support the rupee, improving the country’s overall macroeconomic outlook.
The gains were broad-based, with 46 of the 50 Nifty constituents advancing in early trade.
Among Sensex stocks, InterGlobe Aviation, the parent company of IndiGo, emerged as the top gainer, rising more than 4 per cent. UltraTech Cement climbed 3.5 per cent, while Larsen & Toubro advanced over 3 per cent. Bajaj Finance, Eternal, Asian Paints, Bajaj Finserv and Maruti Suzuki also posted gains of between 2 per cent and 3 per cent.
Financial stocks contributed significantly to the rally. HDFC Bank rose around 2 per cent, while State Bank of India, Axis Bank, ICICI Bank and Kotak Mahindra Bank traded firmly in positive territory. Reliance Industries gained more than 1 per cent, adding to benchmark support.
On the Nifty 50, Shriram Finance led the gainers with a rise of nearly 5 per cent, followed by Bajaj Finance, IndiGo, Eternal and UltraTech Cement. Only a handful of stocks, including Sun Pharma, ONGC and Cipla, traded in the red.
The sharp rebound comes after Indian equities had been under pressure for months due to concerns over the conflict between the United States and Iran. Since the outbreak of the war in late February, the Nifty and Sensex had declined 6.2 per cent and 7.1 per cent, respectively.
First Published:
June 15, 2026, 09:23 IST
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