Stock market today: Significant de-escalation in geopolitical tensions following the announcement of a peace deal by the US and Iran powered global risk assets, including Indian stocks, on Monday, 15 June, as investors cheered the end of the nearly four-month-long conflict.
The immediate correction in crude oil prices also supported Dalal Street bulls, as for an import-dependent economy like India, it helps alleviate inflationary pressures, improves macroeconomic stability, and provides greater policy flexibility.
Against this backdrop, the BSE barometer Sensex closed the day 736 points or 0.97% higher at 76,264. During the day, it touched a high of 76,821.07 and has surged over 2430 points in just two sessions. Meanwhile, Nifty 50 ended the session at 23,854, up 231 points or 0.98%. It rose above 24,000 in intraday deals.
10 key highlights from Indian stock market
Here are 10 key highlights that investors must know from trade today:
1. What moved the market?
Rajesh Palviya, Head of Research, Axis Direct, said that the easing of geopolitical tensions following the USA-Iran peace agreement is a significant positive for global risk assets.
“With one major global uncertainty receding, investor sentiment is likely to strengthen further. Going forward, markets will closely monitor the progress of the monsoon season and any potential impact from El Niño conditions, along with the upcoming quarterly earnings season, which will provide clearer direction on corporate profitability and growth trends,” he added.
(This is a developing story. Check back for updates.)