Indian Market Surges as Iran Strike Plans Halted

The Indian stock market kicked off the week on a strong note, with the Nifty reaching a five-month high. The benchmark index jumped 1.6% to close at 24,774.30, while the BSE Sensex rose 0.7% to end at 78,639.03.

The sharp rise in oil prices was offset by the US pausing plans for a strike on Iran and agreeing to fresh talks with Tehran. Brent crude sank as much as 7.3% before paring losses.

Meanwhile, the Indian rupee extended its recent gains, closing at 95.34 against the US dollar, compared with 95.38 in the previous session.

Market participants expect sentiment to remain constructive, supported by healthy Q1FY27 earnings, easing crude oil prices and improving global risk appetite.