Sensex jumps 1,200 pts, Nifty near 24,000; Nifty Realty index jumps 3%

Indian benchmark equity indices rallied sharply on Monday after investor sentiment received a boost from a reported peace agreement between the United States and Iran, easing concerns over geopolitical tensions and global energy supplies.

By 11 a.m., the Nifty50 had gained 357.35 points, or 1.51 per cent, to trade at 23,980.25, while the Sensex jumped 1,207.78 points, or 1.6 per cent, to 76,735.73.

The rally followed reports that Washington and Tehran had reached a peace deal aimed at ending months of conflict in West Asia, with both sides announcing an immediate halt to military operations.

Investor confidence was further supported by a sharp decline in oil prices. Brent crude futures fell 3.5 per cent to $83.79 a barrel as markets reacted positively to expectations that the Strait of Hormuz — a key global energy shipping route — would remain open and secure.

Among Nifty50 constituents, Shriram Finance, InterGlobe Aviation and Tata Motors were the top gainers.

The broader market also witnessed strong buying interest, with the Nifty MidCap and Nifty SmallCap indices rising 1.4 per cent and 1.6 per cent, respectively.

Sectorally, realty, auto and financial services stocks led the gains, reflecting improved risk appetite among investors. In contrast, pharmaceutical and healthcare shares lagged the broader market and traded in negative territory.