US-Iran peace deal: Donald Trump's announcement sparks massive market surge; these 10 stocks emerge as top gainers
In Asian markets, South Korea's Kospi jumped nearly 6 per cent, while Japan's Nikkei 225 index climbed more than 5 per cent. Shanghai's SSE Composite index and Hong Kong's Hang Seng index were also quoting higher.
10 stocks emerge as top gainers
New Delhi: In a significant development, the stock market benchmark indices Sensex and Nifty surged in early trade on Monday, mirroring a rally in global equities and a sharp decline in crude oil prices, after the US and Iran finalised a deal to end their 107-day war.
The 30-share BSE Sensex jumped 1,112.70 points to 76,648.74 in early deals. The 50-share NSE Nifty surged 335.55 points to 23,956.40. The US and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland.
US President Donald Trump made the announcement on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.
From the 30-Sensex firms, InterGlobe Aviation, Eternal, Bajaj Finance, Bajaj Finserv, UltraTech Cement, and Larsen & Toubro were among the major winners. Sun Pharma emerged as the only laggard from the blue-chip pack. Brent crude, the global oil benchmark, dropped 4.55 per cent to USD 83.36 per barrel.
In Asian markets, South Korea's Kospi jumped nearly 6 per cent, while Japan's Nikkei 225 index climbed more than 5 per cent. Shanghai's SSE Composite index and Hong Kong's Hang Seng index were also quoting higher.
US markets ended in positive territory on Friday.
These 10 Stocks Stole the Show
Amid the strong rally in the stock market, all 30 large-cap stocks in the BSE LargeCap index opened in the green. The biggest gains were seen in:
IndiGo - up 4.05 percent
Larsen & Toubro (L&T)- up 3.60 percent
Bajaj Finance- up 3.56 percent
Eternal- up 3.40 percent
Adani Ports- up 3.80 percent
These stocks emerged as the top performers in early trading as investor sentiment turned sharply positive following the easing of geopolitical tensions.
Crude Oil Price Crash Has a Major Impact
Notably, the sharp improvement in stock market sentiment has been largely driven by the crash in crude oil prices following Trump's announcement of the Iran deal. Crude oil prices fell by more than 4 percent, with Brent crude slipping to USD 83 per barrel.
This decline has eased concerns about global inflation and raised hopes of lower prices for petrol, diesel, and LPG. These positive developments have had a significant impact on investor sentiment, fueling the strong rally in the stock market.
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