Indian shares rallied on Monday as oil prices tumbled amid eased Middle East tensions. The 30-share BSE Sensex jumped 776.01 points, or 1.02 percent, to 76,835.78, while the NSE Nifty index surged 228.50 points, or 0.96 percent, to 23,995.95, snapping a five-day losing streak. Brent crude prices tumbled more than 9 percent toward $89 a barrel after Iran stopped conducting counterattacks and said it had made progress in talks with Oman on management of the Strait of Hormuz, following a pause in U.S. strikes against Iran for a second night. The BSE mid-cap and small-cap indexes climbed 1.1 percent and 1.3 percent, respectively, on expectations of lower inflation, an improved current account outlook, and reduced pressure on the rupee. Among the top gainers, Eternal soared 5.6 percent, Indigo jumped 4.8 percent, and Infosys rallied 3.7 percent.
Infosys Ltd ADRLower oil prices reduce fuel costs for airline, boosting margins.
Lower inflation and improved economic outlook boost consumer spending, benefiting retail.