Noida, June 16 (APAC Media): Equity benchmark indices Sensex and Nifty ended higher on Tuesday, supported by a decline in global crude oil prices and optimism over reports of a possible peace agreement between the United States and Iran, which eased concerns over energy supply disruptions.
The 30-share BSE Sensex rose more than 500 points during the session, while the NSE Nifty advanced to close near the 24,000 marks as investors increased exposure to banking, information technology and consumer-focused stocks.
Market participants remained encouraged by the fall in international oil prices after reports suggested progress in diplomatic efforts between Washington and Tehran.
The development reduced fears of a prolonged geopolitical conflict in West Asia, a region critical to global crude supplies.
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Lower crude prices are viewed as positive for India, which imports a significant portion of its oil requirements.
Analysts said softer energy costs could help contain inflationary pressures, improve corporate margins and support overall economic growth.
Banking stocks contributed significantly to the market’s gains, while buying interest was also visible in select IT and auto counters. Broader markets mirrored the positive trend, with mid-cap and small-cap shares ending in the green.
Global market cues remained largely supportive.
Most European equities traded higher, while Asian markets delivered a mixed performance amid ongoing uncertainty surrounding global growth and interest rate expectations.
Investors also tracked foreign fund flows, with institutional investors showing signs of renewed interest in Indian equities after recent bouts of selling.
Market experts said improving risk appetite and stable domestic economic indicators continued to support sentiment.
Despite the day’s rally, analysts cautioned that volatility could persist in the near term as traders monitor further developments in the Middle East, movements in crude oil prices and key macroeconomic data releases from major economies.
Market participants will also keep a close watch on upcoming corporate earnings announcements and policy signals from global central banks for fresh triggers.
The positive close reflects growing confidence among investors that easing geopolitical tensions and stable economic fundamentals could provide support to domestic equities in the coming sessions.
–ENDS–
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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