Indian equity benchmarks ended higher on Monday, supported by positive global cues following the announcement of a peace agreement between the United States and Iran. The market opened on a b note and closed with significant gains despite retreating from its intraday highs.
The BSE Sensex settled at 76,264.33, up 736.38 points or 0.97%. The NSE Nifty 50 closed at 23,853.90, gaining 231 points or 0.98%. During the session, the Sensex touched an intraday high of 76,821.07, while the Nifty rose to 24,011.40.
Market sentiment strengthened after reports of a peace agreement between the United States and Iran, which raised expectations of softer crude oil prices and reduced geopolitical tensions globally. The positive environment was reflected across Asian markets and extended to Indian equities. Analysts said reduced global uncertainty boosted investor confidence, supporting buying activity in the market.
Among the 30 Sensex constituents, 22 stocks ended higher while the remaining stocks registered marginal declines. In the Nifty 50 index, 34 stocks advanced and 16 declined, indicating positive market breadth.
Trent emerged as the top gainer of the session, with its shares rising 5.35%. Strong consumer demand and positive market sentiment supported the stock.
Other major gainers included InterGlobe Aviation, which advanced 3.62%, Bajaj Finserv up 3.58%, UltraTech Cement up 3.29%, Eternal up 3.26%, Maruti Suzuki up 3.06%, Mahindra & Mahindra up 3.01%, Larsen & Toubro up 2.99%, Bajaj Finance up 2.39%, Titan up 2.10%, and Infosys up 1.68%.
Reliance Industries, Bharti Airtel, ITC, HCLTech, and major banking stocks also recorded mild to moderate gains during the session.
Despite the broader market rally, some heavyweight stocks remained under pressure. ICICI Bank declined about 0.99%. Other notable laggards included Asian Paints, down 0.58%, Hindustan Unilever, down 0.52%, Adani Ports, down 0.49%, Sun Pharma, down 0.40%, Tech Mahindra, down 0.28%, and Tata Steel, down 0.23%.
According to market experts, easing geopolitical tensions and softer crude oil prices could provide support to the market in the near term. However, investors are being advised to continue monitoring global developments and central bank policy actions.
