Indian markets rise on easing geopolitical tensions and falling crude prices
Gains were driven by relief from falling oil prices and optimism following a tentative ceasefire between Israel and Iran .
All sectoral indices were in green territory, with meaningful contributions from IT, FMCG, mid/small caps, and select heavyweight stocks. Still, investors should remain watchful of stretched valuations, foreign outflows, and potential flare-ups in geopolitical tensions (notably around the Strait of Hormuz).
Nifty MidCap +0.43%, Nifty SmallCap +1.36%. India VIX dropped nearly 3%, reflecting calmer market sentiment.
Sectoral winners today were Nifty IT, up 1%, and Nifty FMCG, up 0.8%.
The key drivers behind the rally include geopolitical ease, stable to lower oil prices and stronger rupee.
Ceasefire news boosted global risk sentiment and helped oil prices drop sharply—US futures saw West Texas Intermediate fall of about 3.2% and Brent crude about 3.4%. Brent crude softened to sub-$70 following the ceasefire—providing relief to India's import-heavy economy.
The rupee strengthened 0.2% to ₹85.82/USD amid lower US yields, and RBI's liquidity withdrawal (₹1 trillion variable reverse repo auction) supported forward premiums .
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