Indian Equities Jump as US-Iran Talks Loom Amid Easing Crude Prices

The Indian equity benchmarks opened firmly higher on Monday, extending their gains from Friday. The BSE Sensex was trading at 78,585.77, up 491.13 points or 0.63 per cent, while the NSE Nifty 50 climbed 156.55 points or 0.64 per cent to 24,540.15 as of 9:27 am.

The upbeat start came amid an improving geopolitical backdrop after US President Donald Trump said talks with Iran would take place on Monday, though he declined to set a deadline for an agreement. Oil prices tumbled $4 a barrel on Monday after Trump held off on a fresh attack on Iran, seeking a quick deal to halt Tehran's nuclear ambitions and reopen the Strait of Hormuz.

The sharp reversal in oil prices reflected optimism that a deal could ease the shipping disruptions that have kept a war premium built into prices. Among sectoral indices, the Nifty Cement rose 1.06 per cent, the Nifty FMCG gained 1.03 per cent and the Nifty Metal added 0.97 per cent.