Indian Market Jumps on US-Iran Peace Deal Hopes, Crude Prices Fall
The Indian stock market began trading on August 5, 2026, with a firm start. Both the Nifty and Sensex indices rose significantly, with the Nifty gaining over 35 points to open at 24,669.20 and the Sensex jumping over 450 points to open at 79,055.38.
The rally was driven by hopes of a US-Iran peace deal, which were boosted by statements from US President Donald Trump and US Treasury Secretary Scott Bessent. The Strait of Hormuz, a key waterway in the Middle East, is expected to be opened soon, which could lead to a decline in crude oil prices.
Crude oil prices have already declined over 1% and Brent Crude rates fell below $80 per barrel, contributing to the market's positivity. G. Chokkalingam, Head of Research at Equinomics Research, expects the domestic market to remain firm this week due to the decline in crude oil prices.