Mumbai, June 15: The Indian stock market opened on a high note on Monday, buoyed by increased risk sentiment following US President Donald Trump’s announcement of a peace agreement with Iran. Both the BSE Sensex and NSE Nifty 50 saw gains of over 1.4 percent at the start of the trading week.
The Sensex began the session with a remarkable rise of nearly 1,200 points, or 1.6 percent, reaching 76,725.27, while the Nifty opened at 23,984.85, up approximately 360 points or 1.53 percent.
As of the latest updates, the Sensex was trading at 76,617.91, reflecting an increase of 1,089.96 points, or 1.44 percent. The Nifty 50 was also up by 341.45 points, or 1.45 percent, trading at 23,964.35.
In broader markets, the Nifty Midcap Index rose by 1.4 percent, and the Nifty Smallcap Index increased by 1.5 percent.
Sector-wise, notable gains were observed in Nifty Metal, which surged by 3.61 percent, followed by Nifty Realty and Nifty Consumer Durables, both up by 2.3 percent. The Nifty Auto index also saw a rise of 2.2 percent. Meanwhile, Nifty Financial Services and Nifty Oil & Gas both increased by 1.9 percent, and Nifty PSU Bank rose by 1.4 percent. However, Nifty Pharma and Nifty Healthcare indices recorded declines.
In the Nifty index, all but five stocks were trading in the green. Shares of Shriram Finance, Indigo, Eternal, TMPV, Bajaj Finserv, Bajaj Finance, and L&T showed the most significant gains.
President Trump announced that Washington and Tehran have agreed to a peace deal, which is expected to end a four-month-long conflict in the Middle East that has resulted in numerous casualties and disrupted the global economy. Reports indicate that both the US and Iran have declared an immediate halt to military operations across all fronts.
In a social media post on Sunday, Trump stated, “The deal with Iran is now complete. I fully allow the opening of the Strait of Hormuz without any restrictions and also authorize the immediate removal of the naval blockade imposed by the United States.”
Market experts suggest that the reduction of tensions in the Middle East and a significant drop in crude oil prices have created better prospects for the Indian economy and stock markets.
One expert noted, “The onset of peace in the Middle East, coupled with a sharp decline in Brent crude prices below $84, has improved prospects for the Indian economy and stock markets. In this altered scenario, GDP growth and CPI inflation estimates for FY 2027 could be revised to 6.9 percent and 4.6 percent, respectively, positively impacting the stock market.”
On the commodities front, international benchmark Brent crude fell nearly 5 percent to $83.05 per barrel, while US West Texas Intermediate (WTI) crude dropped by 5.74 percent to around $80 per barrel. This boosted investor sentiment, as the peace agreement between the US and Iran is expected to open vital shipping routes for energy supplies, specifically the Strait of Hormuz.
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