Indian Equities Wobble on Hormuz Deal Hopes and Oil Price Volatility

The Indian equity market started on a cautious note on Monday as investors weighed uncertainty over a possible agreement between the US and Iran to reopen the Strait of Hormuz.

According to data, the BSE Sensex climbed 60 points and began trading above 78,550, while the NSE Nifty50 stood at almost 24,600, inching up about 14 points by around 9:16 AM.

The GIFT Nifty pointed to a largely steady opening for domestic equities, with futures quoted at 24,655, indicating little movement from the previous session.

Investors are likely to remain focused on developments around the Strait of Hormuz, particularly as uncertainty persists over a potential agreement between Washington and Tehran.