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Indian equity benchmarks rallied, tracking cues from Asia peers and falling crude prices after US-Iran reached a deal to end war. The NSE Nifty 50 rose as much as 1.64% to 24,011.35. The BSE Sensex gained as much as 1.7%, or 1,293.12 points, to 76,821.07.
Meanwhile, oil prices slumped after US President Donald Trump said Washington had completed an agreement with Iran to reopen the Strait of Hormuz, a key route for global crude shipments. WTI crude futures for July delivery fell 4.77% to $80.83 a barrel, while Brent crude futures for August delivery declined about 4% to $83.77 a barrel.
Elsewhere, Asian markets traded mixed on Tuesday, with Japan and South Korea leading gains, while several major benchmarks were little changed. Japan’s Nikkei rose 4.68% to 69,108.03, marking the strongest move among key regional indices. South Korea’s Kospi gained 5.64% to 8,581.47, while Australia’s ASX 200 advanced 1.44% to 8,930.6, New Zealand’s NZX 50 added 0.28% to 13,431.14 and Singapore’s STI climbed 0.76% to 5,025.8.
