Indian equity markets cheered the sharp fall in crude oil prices after the US and Iran announced a peace deal. The indices opened on a strong footing but closed slightly off the day’s high. The Nifty 50 ended the session 231 points, or 0.98%, higher at 23,853.90, while the 30-stock index, Sensex, settled the day 736.38 points, or 0.97%, higher at 76,264.33.
Similarly, the broader indices followed suit, closing in the green. The Nifty Midcap 100 finished 782 points or 1.29% higher at 61,549.65. The Nifty Bank settled 384 points or 0.68% higher at 57,198.80.
Nilesh Shah, MD, Kotak Mahindra AMC, believes that the announcement of the US-Iran deal propped up the market initially. “Focus will be on the normalisation on the ground with the supply chain flowing and prices coming back to double digits. The market will watch the spread of monsoon and AI flows, as well as guidance from the companies. We recommend clients follow asset allocation Dharma and remain neutral weight to equity with an Overweight on midcaps.”
“With crude oil prices easing to below $85 per barrel, concerns around inflation have moderated, supporting a more stable interest rate outlook and improving earnings visibility for FY27,” added Vinod Nair, Head of Research at Geojit Investments.
According to him, “The easing in geopolitical risks is also expected to moderate bond yields, FII outflows and strengthen the rupee, further reinforcing the positive market outlook.”
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a higher note. During the session, out of 3,453 trading stocks, 2,510 advanced, while 831 declined, and 112 remained unchanged. Today, 123 stocks hit a fresh 52-week high. Meanwhile, 28 stocks touched a new 52-week low.
Top gainers
Trent was the top gainer in the Nifty 50 in Monday’s session, closing 5.3% higher. It was followed by HDFC Life Insurance Company, Shriram Finance, Eicher Motors, and InterGlobe Aviation.
Big losers
NTPC shares were the biggest losers in today’s trade, falling 1.58%. It was followed by Bajaj Auto, ONGC, ICICI Bank, and Hindalco Industries, which were the major losers.
Top sectors in Monday’s trade
The Aquaculture and Waste Management sectors’ stocks surged the most in Monday’s trade, rising 6.4% in market capitalisation. Further, Capital Market stocks were followed by the Beverages – Non-Alcoholic sector stocks, which were further followed by the Tyres sector stocks. However, the Oil & Gas Exploration sector stocks fell the most in today’s strong market.
