Crude Oil Slide Lifts Indian Markets Amid US-Iran Diplomatic Efforts

Indian stock markets ended firmly higher on Monday as crude oil prices plummeted and hopes of easing tensions between the United States and Iran lifted investor sentiment.

The BSE Sensex gained 544.39 points, or 0.70 per cent, to close at 78,639.03, while the NSE Nifty 50 jumped 390.70 points, or 1.60 per cent, to settle at 24,774.30.

The rally was supported by US President Donald Trump's announcement that talks with Iran would begin on Monday after suspending planned military strikes, which triggered a sharp decline in international crude prices.

Lower crude prices benefited India, which depends heavily on imports to meet its energy requirements, and technology stocks led the gains as investors continued to return to the sector.