Stock Market
Oil prices crash, markets fly! Sensex rockets as global tensions ease
Mumbai/IBNS: The Indian stock market rallied sharply on Monday with the BSE Sensex and NSE Nifty surging at the opening bell, media reports said.
The BSE Sensex climbed more than 800 points while the Nifty moved closer to the 24,000-mark, reflecting renewed investor confidence.
Oil prices tumble
The rally in the domestic market came amid a sharp decline in global crude oil prices.
US crude oil prices plunged nearly 8 percent, while Brent crude fell more than 5 percent during the same period.
Trump pauses Iran strike plan
The fall in oil prices and the corresponding market rally followed reports that US President Donald Trump has halted plans for an airstrike on Iran, allowing more time for diplomatic talks.
Strait of Hormuz concerns ease
Oil prices also slipped amid reports suggesting progress in easing tensions around the Strait of Hormuz, a crucial global oil transit route.
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