Stock Market Today: Effect of US-Iran peace agreement and fall in oil prices, rise in domestic stock markets; Know the condition of Sensex-Nifty
Mumbai. There was a surge in domestic stock markets in early trading on Monday amid the rise in global markets and sharp fall in crude oil prices. Domestic markets were supported by a sharp fall in global crude oil prices after US President Donald Trump announced an agreement to end the war between the US and Iran. BSE Sensex rose 1,112.70 points to 76,648.74 while NSE Nifty rose 335.55 points to 23,956.40.
The US and Iran have agreed to end the 107-day war and open the Strait of Hormuz, vital for global oil supplies. The agreement was finalized on Friday after signing in Switzerland. Donald Trump announced this on Sunday on the social media platform ‘Truth Social’. This reduced pressure on global energy markets.
According to officials, the peace deal will be formally signed in Switzerland on June 19. Among the 30 companies included in the Sensex, shares of InterGlobe Aviation, Bajaj Finance, Bajaj Finserv, UltraTech Cement and Larsen & Toubro were the biggest gainers. Only Sun Pharma shares recorded a decline. Asian markets also witnessed a strong rise.
South Korea’s Kospi jumped nearly six percent, while Japan’s Nikkei 225 gained more than five percent. Apart from this, SSE Composite and Hang Seng also remained in the lead. At the same time, American stock markets also closed strongly on Friday. The price of international standard Brent crude fell by 4.55 percent to around $ 83.36 per barrel. According to stock market data, foreign institutional investors (FIIs) were net sellers on Friday and sold shares worth Rs 1,082.18 crore. On Friday, Sensex closed with a gain of 1,695.40 points and Nifty with a gain of 461.30 points.
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