Stock Market Today: Sensex Jumps Over 1,100 Pts, Nifty Eyes 24,000; IndiGo, HPCL Lead Rally After US-Iran Deal

The Indian stock market kicked off Monday's trading session on a robust note, with benchmark indices Sensex and Nifty witnessing a sharp rally in early trade, mirroring strong gains across Asian markets and a steep fall in crude oil prices. Investor sentiment received a significant boost after reports suggested that the United States and Iran had reached a breakthrough agreement.

Stock Market Today: Dalal Street Opens with a Bang; Sensex Surges Over 1,100 Points, Nifty Nears 24,000 in Early Trade After US-Iran Peace Deal

Dalal Street witnessed a powerful start to Monday's session, with the Sensex rallying over 1,150 points to trade at 76,686.27 at 9:16 am, marking a 1.53 per cent gain from its previous close. The index had opened sharply higher at 76,725.27. Meanwhile, the Nifty 50 surged 332.95 points, or 1.41 percent, to reach 23,955.85 as it edged closer to the 24,000 milestone.

The relief in global risk sentiment comes after weeks of uncertainty surrounding the Middle East conflict, which had kept investors on edge over the possibility of prolonged instability and higher oil prices.

Japan's Nikkei, Korea's Kospi Led Asian Markets Rally on Easing Middle East Concerns

The latest diplomatic progress between Washington and Tehran has triggered a broad-based rally in equities across Asia, with Japan's Nikkei soaring 3 percent, South Korea's Kospi jumping 4.3 percent and MSCI's broadest index of Asia-Pacific shares outside Japan advancing 1.5 percent.

Aviation, Oil and Paint Stocks as Crude Oil Fears Ease

The optimism was further supported by a sharp correction in crude oil prices. Brent crude slipped nearly 4 percent to trade around $83.80 per barrel as fears of supply disruptions eased, offering relief to oil-importing nations like India and improving the outlook for inflation and corporate earnings.

IndiGo, HPCL, IOC, BPCL Among Top Gainers

Following reports of a U.S.-Iran deal, several Indian stocks witnessed strong gains in the market. InterGlobe Aviation (IndiGo) emerged among the top performers, rising 3.77 percent or 177.70 points at around 9.24 am.

Oil marketing companies also rallied sharply amid expectations of lower crude oil prices. Hindustan Petroleum Corporation Limited (HPCL) gained 5 percent or 19.45 points to reach 408.35, while Indian Oil Corporation (IOC) climbed 4.46 percent or 6.28 points to trade at 147.22. Bharat Petroleum Corporation Limited (BPCL) also advanced 4.56 percent or 13.80 points to 316.15.

Asian Paints also benefited from easing crude oil concerns, with the stock rising 2.69 percent or 73.80 points in the early morning trade.

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