Equity Alert
InterGlobe Aviation rises 5% to 3-mo high post US-Iran deal
This story was originally published at 14:02 IST on 15 June 2026
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Equity Alert: InterGlobe Aviation rises 5% to 3-mo high post US-Iran deal
MUMBAI--1347 IST--Shares of InterGlobe Aviation rose nearly 5% to a three-month high of INR 4,941.50. Shares of the domestic airline rose after the US and Iran reached a peace deal and decided to open the Strait of Hormuz on Friday. The ending of the war is likely to normalise the airline's operation and bring down higher jet fuel rates on the back of elevated crude oil prices.
During its March quarter post-earnings conference call, the company said it had cancelled about 160 international flights across West Asia and Europe since the US-Iran war began. The cancellations came on the back of higher fuel costs and operational issues. Due to the war, crude oil prices gained sharply, which led to a sharp increase in jet fuel costs. For the March quarter, the company reported a net loss of INR 26.62 billion, owing to higher foreign exchange losses, high fuel costs, and low passenger volumes due to the disruption caused by the war.
Global brokerage Jefferies said that international business is likely to be the growth driver for the airline through fleet and route expansion, CNBC TV18 reported. The company's near-term focus is on pricing discipline over aggressive capacity addition, Jefferies said. It added that cost inflation was managed through a pragmatic growth approach. Jefferies has a 'buy' call on the stock with a target price of INR 5,380.
At 1342 IST, shares of InterGlobe Aviation traded over 4% higher at INR 4,912.10. Nearly 2 million shares of the company changed hands on NSE, which is largely unchanged from the number of shares traded till the same time Friday. (Adhithya Aji)
Equity Alert: Indices hold on to gains; fincl svcs cos up; pharma cos lag
MUMBAI--1319 IST--Indices shed some of their gains in the second half of trade but stayed in positive territory as crude oil prices remained subdued on the news of the peace deal between the US and Iran. The two parties will sign the agreement on Friday in Switzerland. At 1309 IST, Brent Crude oil futures were down over 5% at $82.79 per barrel. Only around 10 constituents of the Nifty 50 were in the red. Financial services companies and automobile players were the main gainers, while energy and pharmaceutical companies lagged.
At 1319 IST, the Nifty 50 and BSE Sensex were up 1.2?ch at 23912.25 and 76439.19, respectively. Broader markets shed some of their earlier gains but continued to outperform their benchmark peers. Both the Nifty small-cap indices and mid-cap indices were up 1.6–1.8%.
Shriram Finance, up 5.3%, continued to be the top gainer in the Nifty 50 index, leading the gains among financial services companies. Bajaj Finance and Bajaj Finserv were up around 3% and 4%, respectively. Among other gainers, Trent, Eternal, and InterGlobe, Aviation were up 4–5%. Maruti Suzuki, up over 4%, led the gains among automobile players, followed by peers Eicher Motors and Mahindra & Mahindra which gained nearly 4?ch. Heavyweight stocks Reliance Industries and HDFC Bank came off highs, but remained around 1% higher each. ICICI Bank, however, gave up its earlier gains and slipped into the red, down 0.2%. State-owned energy company NTPC, down 1.6%, remained the worst hit stock in the Nifty 50.
Kalyan Jewellers rose further, up nearly 11%, and was the top performer in the Nifty 200 and 500 indices amid rising gold prices. At 1315 IST, the most active August gold contract on the Multi Commodity Exchange was up 1.6% at INR 152,940. Mid-cap financial services companies Cholamandalam Investment and Finance Co., Motilal Oswal Financial Services, and L&T Finance were up around 6-7%. Several real-estate companies were also gainers with shares of DLF, Prestige Estates Projects, and Godrej Properties up around 5?ch.
Aurobindo Pharma, extended its losses, and slid 4%. The stock was the worst performer in the Nifty 200 and Nifty 500 indices. Metal major Vedanta, down 1.5%, was also among the prominent laggards in the Nifty 200 index. Four of its demerged entities were listed on the bourses Monday. Vedanta Aluminium Metal, Vedanta Power, Vedanta Iron and Steel, and Vedanta Oil and Gas were the entities listed on the NSE and BSE after they demerged from Vedanta effective May 1. Among other laggards, Glenmark Pharmaceuticals, Torrent Pharmaceuticals, and Zydus Lifesciences were down 1.2-1.4?ch. Their small-cap peers Wockhardt and Ajanta Pharma were down around 2% and 2.5%, respectively, and lagged in the Nifty 500 index. (Shruti Nair)
Equity Alert: Aurobindo Pharma dn 4% post US FDA classification of arm's unit
MUMBAI--1307 IST--Shares of Aurobindo Pharma fell over 4% to a near-one-month low of INR 1,410.40 after the US Food and Drug Administration classified its subsidiary Eugia Pharma Specialities Ltd.'s Telangana unit as "official action indicated". This could have some near-term impact on margins and compliance-related issues.
Aurobindo Pharma on Friday said that the US FDA conducted an inspection at Eugio Unit – III from Jan. 27 to Feb. 6. The plant has 35 pending approvals, and has been under compliance review for some time now, said ICICI Securities. Earlier, the company decided to temporarily stop plant operations on certain lines to conduct a holistic investigation. "This could lead to some negative impact on the overall margins as the company might have to undertake certain remediation measures," the brokerage said.
The regulator's move might also lead to a revenue postponement of the pending approvals, but this impact is expected to be offset by the consolidation of US-based company – Lannet Co. Inc. in the September quarter, ICICI Securities said. "Overall, despite undertaking calibrated de-risking initiatives (Pen G, Biosimilars, Biologics CMO) recurring plant-compliance related issues may weigh on sentiments in the near term," the brokerage added.
At 1252 IST, shares of Aurobindo Pharma traded nearly 4% lower at INR 1,418.80. Over 1 million shares of the company changed hands on the NSE, which is over three times higher than the number of shares traded till the same time Friday. The stock was the worst hit in both the Nifty 200 and Nifty 500 indices. (Adhithya Aji)
Equity Alert: Most shipping stocks up on hope of Strait of Hormuz reopening
MUMBAI--1305 IST--Shares of most shipping companies rose in early trade Monday after the US and Iran reached an agreement to sign a peace deal by Friday that would reopen the Strait of Hormuz, raising expectations of normalisation of global trade flows through the strait. The critical waterway carried around 20% of the world's oil supplies before traffic plunged since early March due to the US-Iran war. After rising around 2-10% in early trade, shares of most domestic shipping companies came slightly off highs to trade 0.4-8% higher at 1246 IST.
US President Donald Trump Monday said a peace deal had been reached between the US and Iran and that the Strait of Hormuz would be reopened completely upon the signing of the peace deal. In a statement, the Secretariat of Iran's Supreme National Security Council said the deal with the US includes the immediate suspension of hostilities on all fronts, including Lebanon, and an end to the US's naval blockade on Iranian ports. Pakistani Prime Minister Shebaz Sharif said that the signing of the peace deal would take place in Switzerland on Friday.
At 1254 IST, shares of Shipping Corp of India traded around 4% higher at INR 308.05, down from the near 8% rise it saw in early trade. So far in the session, over 11 million shares of the company changed hands on the National Stock Exchnage, compared to the nearly 2 million shares traded till the same time Friday. Among other major shipping stocks, Transworld Shipping Lines, Cochin Shipyard, and Great Eastern Shipping Co traded 0.4-7.9% higher, while Shreeji Shipping Global traded over 1% lower. (Arya S. Biju)
Equity Alert: Suzlon Energy rises after co outlines plan for FY31
MUMBAI--1300 IST--Shares of Suzlon Energy rose as much as much as 3% intraday as market participants reacted to the management's 'Suzlon 2.0' strategy, which it outlined in its meeting with analysts. The management sees the company expanding from being an original equipment manufacturer of wind turbines into a fully integrated renewable energy solutions provider. Brokerages highlighted that the company's execution of its plans will be key. At 1259 IST, shares of the company were up almost 2% at INR 55.92 with trading volume at 39.8 million.
The company aims for its revenue to grow 25% at a compounded annual rate over the next five years as it seeks to expand across wind, solar, battery storage, electronic manufacturing services, and operations and services. The management wishes to have an orderbook worth 15 gigawatts by 2030-31 (April-Mar) and generate 15% of its revenue from exports, brokerages noted. Through a renewable energy project development company, DevCo, Suzlon Energy aims to expand its asset management platform under operations and services to around 70 GW from 18 GW currently. Suzlon Energy also seeks to broaden its market share in the wind energy space to 40% by FY31 from around 33% right now.
The company's plan to expand its assets management services to 70 GW and have an integrated renewable energy solutions business could improve its revenue visibility, margin and valuation multiples, JM Financial Institutional Securities said in its report. The brokerage maintained its 'buy' stance with an unchanged target price of INR 65. "We would prefer to wait for evidence of execution rather than the strategy itself. History shows execution complexity (not demand) is usually what determines the success of such transformations," the brokerage said.
Suzlon Energy continues to stand out as the most credible and investible player in the Indian wind energy space, Motilal Oswal Financial Services said in a report. The broking firm reiterated its 'buy' recommendation on the stock with a target price of INR 65. Like JM Financial, Motilal Oswal said investors would likely focus on execution, capital allocation discipline, and the trajectory of working capital.
The company's plan for diversification is not heavily reliant on capital expenditure, ICICI Securities highlighted. Wind energy is likely to play an important role in generating renewable energy going forward, and Suzlon Energy would naturally benefit, the brokerage said. 'Suzlon 2.0' is likely to enhance the company's orderbook and growth visibility beyond FY28. ICICI Securities maintained its 'buy' call on the stock with an unchanged target price of INR 65. (Ruchira Kagita)
Equity Alert: Rajesh Exports shares hit 5% upper circuit; snap 7-day fall
MUMBAI--1230 IST--Shares of Rajesh Exports snapped a seven-day losing streak Monday and hit the 5% upper band at INR 80.23. The stock shed over 30% during its seven sessions of delcine and hit the lower circuit in each one of these.
Shares of the company climbed for the first time since the Securities and Exchange Board of India issued an interim order against the multinational gold and jewellery company, and its promoter, Rajesh Mehta. The order was related to the misrepresentation of the company's revenue between 2020–21 (Apr-Mar) and FY26. However, the company claimed that most of its sales came from its step-down arm, Valcambi SA, which is based in Switzerland. The market regulator said Valcambi's revenues were miniscule in comparison to Rajesh Exports' consolidated revenue, which did not match with the company's claims of the subsidiary being the "principal operating entity".
The company later said in a filing that the SEBI had found a shortfall in its consolidated revenue because the regulator used step-down subsidiary Valcambi's earnings before interest, tax, depreciation and amortisation figures for calculations instead of revenue. (Arundathi A R)
Equity Alert: Indices stay in green as oil price dn; fincl svcs, auto cos up
MUMBAI--1210 IST--Indices shed some gains around midday trade but remained in the green amid news of the US-Iran peace agreement. The two parties will officially sign the peace deal on Friday in Switzerland, Pakistani Prime Minister, Shehbaz Sharif, said in a post on X. Following the news of the deal, crude oil prices fell sharply to below $84 per barrel. At 1205 IST, August futures of Brent crude oil were down 4.4% at $83.46 per barrel.
At 1210 IST, both the Nifty 50 and BSE Sensex were up 1.3?ch, at 23935.50 points and 76543.52 points, respectively. Shriram Finance, up 5.5%, stayed the top performer in the Nifty 50 index, while NTPC extended its intraday losses, shedding nearly 1%, and was the worst performer in the index. Broader markets continued to outperform their headline peers, with the Nifty mid-cap indices gaining 1.8-1.9% and the small-cap indices gaining 1.7-1.8%.
Financial services companies continued to be among the top performers in the Nifty 50 index, with Bajaj Finance, Bajaj Finserv, and Jio Financial Services, up 3–4%. Automobile companies also remained among the top gainers, broadly unchanged, after the Society of Indian Automobile Manufacturers released the sales figures for May. According to the release, total vehicle sales in May jumped 17% on year to 2.35 million units. Of this, passenger vehicle sales came in at 438,854 units, up 27% on year. Eicher Motors, Mahindra & Mahindra, and Maruti Suzuki rose over 3–4%. Among individual stocks, domestic airline company InterGlobe Aviation gained 4.2% following the dip in crude oil prices, which impacts the company's jet fuel costs. The stock hit its highest level since the start of the conflict in West Asia at INR 4,941.50 per share.
Less than 10 constituents of the Nifty 50 index were in the red. Upstream oil company Oil and Natural Gas Co, was down nearly 1% following the dip in oil prices. Among other laggards, Bajaj Auto, down 0.6%, was the only automobile stock in the Nifty 50 index to be in the red.
Kalyan Jewellers India, up 9%, was the top gaining stock in the Nifty 200 index tracking the rise in gold prices. At 1208 IST, the most active August gold contract on the Multi Commodity Exchange was at INR 152,750 per 10 gm, up 1.5%. Gold-based lender Muthoot Finance, up 5.4%, was also among the notable gainers in the 200-stock index. Its small-cap peer, Manappuram Finance, was up 4.2%. On the other hand, pharmaceutical players Aurobindo Pharma and Torrent Pharmaceuticals, down over 2% and 1%, respectively, were the worst hit stocks in the index. Leela Palaces Hotels & Resorts hit its 10% upper circuit at INR 472.75 per share and was the top gainer in the Nifty 500 index, while Tenneco Clean Air shed 3% and was the worst performer in the Nifty 500 index. (Shruti Nair)
Equity Alert: Auto, auto financiers rise as crude falls after US-Iran deal
MUMBAI--1205 IST--Shares of most automobile and auto ancillary companies, as well as auto financiers rose after US President Donald Trump said the US and Iran had reached an agreement that would reopen the Strait of Hormuz, leading to a sharp retreat in crude oil prices. Lower crude prices are positive for domestic automobile and tyre manufacturers, whose raw material and logistics costs are highly sensitive to crude derivatives, ICICI Direct Research said in a report. This will in turn lead to strong retail demand momentum for automobiles, supporting auto financiers.
The Nifty Auto index rose over 3% to its highest level in more than a month at 27091.05 points. However, the index is still more than a thousand points away from its pre-Iran war level. Till Friday, the sectoral index had lost 6.6% from the pre-war level and is down around 10% from the all-time high it hit at the beginning of 2026. At 1150 IST, the auto index was up around 3% at 27072.40 and was among the top gaining sectoral index, with all of its constituents barring Bajaj Auto trading with gains, up 0.6-5.6%. Monday, the August futures contract of brent crude oil fell around 5% to a low of $83.04 per barrel, but is still above the pre-war levels of around $70 per barrel.
"Tyre manufacturers such as Apollo Tyres benefit as lower crude reduces costs of key crude-based inputs like rubber and carbon black, improving margins," ICICI Direct Research said. For automobile original equipment manufacturers, lower fuel prices can improve consumer sentiment, and a reduction in non-ferrous metal prices could potentially lower the under absorption of recently commodity-led raw material inflation, the brokerage said. "With Auto Sector lagging the recent recovery trend in the market (April onwards), we expect the sector to outperform going forward amidst strong retail demand momentum and fundamental levers of healthy volume growth," ICICI Direct Research said.
Strong demand for automobiles will positively impact auto financiers such as Shriram Finance, Mahindra & Mahindra Financial Services, Cholamandalam Investment and Finance Co, and Bajaj Finance. At 1200 IST, shares of these companies traded 3.2-5.6% higher. (Arya S. Biju)
Equity Alert: Four demerged entities of Vedanta list on NSE, BSE
MUMBAI--1140 IST--Four demerged entities of mining company Vedanta were listed on bourses on Monday. Vedanta Aluminium Metal, Vedanta Power, Vedanta Iron and Steel, and Vedanta Oil and Gas were the entities listed on the NSE and BSE after they demerged from Vedanta effective May 1.
Vedanta Aluminium was listed at INR 527 on BSE post demerger from Vedanta. On the NSE, the stock was listed at INR 522. At 1136 IST, shares of the company were trading at INR 495.90 on the NSE, 5% lower than the listing price.
Vedanta Power debuted at INR 41.30 on the BSE and at INR 41.80 on the NSE. From the listing price, shares of the company have risen almost 3% on the NSE at INR 42.92.
Vedanta Oil and Gas was listed at INR 38 on the NSE and at INR 39 on the BSE. They have fallen 5% from its listing price. Vedanta Iron and Steel were trading over 82% lower each on the NSE and BSE. The stock listed at INR 20 and INR 22.25 on the NSE and BSE, respectively.
At 1123 IST, shares of Vedanta were almost 1% lower at INR 307.10 on the NSE. The stock fell after closing higher for the past two sessions. (Arundathi A R)
Equity Alert: Jewellery majors, gold financiers up as bullion rises over 2%
MUMBAI--1130 IST--Shares of jewellery companies and gold financiers rose as the bullion climbed after the US President Donald Trump said the US and Iran have agreed upon a peace deal. The bullion jumped as much as 2.8% to above $4,350 an ounce. In terms of India rupee, the prices went up over 2% to an intraday high of INR 153,829. At 1058 IST, shares of Muthoot Finance had risen as much as 5% and those of Manappuram Finance as much as 4% intraday. Jewellery companies Titan and Kalyan Jewellers rose 2% and more than 7%, respectively.
If the increase in gold prices sustains, it will likely hamper consumer demand for jewellery. Further companies which purchased gold at higher prices could face mark-to-market losses, Systematix Research said in a report. "Lower prices are expected to support retail demand. However, expectations of further corrections could delay purchases in the near term," Systematix said.
Further, the peace deal, coupled with the Reserve Bank of India's recently announced forex measures, is likely stabilise the Indian currency and restore gold imports. "...(If) Brent moves down towards $70–73 (per barrel), that materially eases our import bill and current account, which only amplifies the inflow story. Alongside this, we expect flows into the equity segment to improve as global risk sentiment recovers," Anindya Banerjee, the head of commodity and currency research at Kotak Securities said in a note.
"The metal's (gold's) recent decline through its 200-day moving average had triggered additional selling this week," Nirmal Bang said in a report. Gold exchange-traded funds had witnessed significant flows after the government had hiked the import duty on gold to 15% from 6?rlier. Gold ETFs recorded net outflows of INR 7.25 billion in May compared to net inflows of INR 30.40 billion in April. (Ruchira Kagita)
Equity Alert: OMCs up on US-Iran peace pact, cos to achieve higher utilisation
MUMBAI--1108 IST--Oil marketing majors traded on a positive note Monday after global crude prices declined. US President Donald Trump announced that a peace deal with Iran would be signed and the strategically vital Strait of Hormuz would be reopened on Friday. At 1129 IST, the August futures of crude oil were over 4% lower at $83.53 a barrel from the previous close of $87.33.
For downstream companies, crude oil supply is likely to be steady with easing geopolitical concerns and lower raw material costs as crude oil prices fall, which will help them achieve higher utilisation of refineries, according to Sumit Pokharna, senior vice president, fundamental research at Kotak Securities. Pokharna also said that downstream companies' recovery from recent losses is expected to be at a much faster pace. As of Jun. 12, these companies incurred a margin loss of INR 13.9 per litre on diesel and 0.8 per litre on petrol, Pokharna said.
Shares of Indian Oil Corp. and Bharat Petroleum Corp. hit a one-month high each. At 1128 IST, Hindustan Petroleum Corp. was up nearly 5% at INR 407.75, and Bharat Petroleum Corp. gained nearly 3% at INR 310.65. Indian Oil Corp. traded over 3% higher at INR 145.80. (Adhithya Aji)
Equity Alert: Indices remain higher as oil prices fall on US-Iran deal
MUMBAI--1045 IST--Benchmark indices remained higher during morning trade, buoyed by news of the peace deal in West Asia and the sharp fall in Brent Crude oil prices. On Sunday, Pakistani Prime Minister Shehbaz Sharif said the US and Iran had reached a peace agreement and that the official signing of the deal would take place on Friday in Switzerland. At 1040 IST, Brent crude oil futures shed 4.6% at around $83 per barrel. The Nifty small-cap indices outperformed their headline peers, up 1.8?ch, and hit their highest levels in around a month, while the Nifty mid-cap indices rose 1.5-1.7%.
At 1040 IST, the Nifty 50 index was at 23965.45, up 1.5%, and its peer BSE Sensex was at 76685.40, up 1.5%. The market volatility gauge, India VIX, was down 4.6% at 14.0425. Most sectoral indices were up, with the Nifty Realty and Nifty Auto indices being the top gainers, up 3.3% and 2.8%, respectively. The Nifty Healthcare and Nifty Pharma indices were the only two sectoral indices in the red, down 0.2% and 0.3%, respectively.
Shriram Finance, up 5.1%, was the top gainer in the Nifty 50 index. Bajaj Finserv, Bajaj Finance, and Jio Financial Services were up around 3–4%. Automobile players Eicher Motors, Mahindra & Mahindra, and Maruti Suzuki also saw gains, climbing around 3–4%. Among individual stocks InterGlobe Aviation was up 4.8% amid the sharp fall in crude oil prices. Quick commerce major Eternal, up 4.4%, was also among top performers in the Nifty 50, while its mid-cap peer Swiggy, up 5.3%, was among the notable gainers in the Nifty 200 index.
Pharmaceutical companies and energy companies were among the main laggards in the 50-stock index. Oil and Natural Gas Corp., down 1.2%, was the worst hit stock in the index, tracking the fall in crude oil prices. Energy companies Coal India and NTPC also lagged, shedding 0.3% and 0.5%, respectively. Pharmaceutical player Cipla was down 1%, while Sun Pharmacuetical Industries was down marginally.
Financial services companies were also among top gainers in the Nifty 200 index. Cholamandalam Investment and Finance Co., Motilal Oswal Financial Services, and L&T Finance gained around 6–7%. GE Vernova T&D India, down over 3%, was the worst performer in both the Nifty 200 and Nifty 500 indices. Other laggards included pharmaceutical players, Aurobindo Pharma and Torrent Pharmaceuticals, down 1.3% and nearly 1%. HDB Financial Services was the top gainer in the Nifty 500 index. (Shruti Nair)
Equity Alert: Indices open higher as US, Iran reach deal, crude oil falls
MUMBAI--0940 IST--Benchmark stock indices opened higher after the US and Iran reached a deal to end the war. In a post on Truth Social, US President Donald Trump said, "This Great Deal will bring Peace and Security to the whole Region." He also announced the reopening of the strategically vital Strait of Hormuz on Friday, when the deal will be signed. Crude oil prices declined and the August futures contract of Brent Crude oil were over 4% lower at $83.44.
At 0943 IST, the Nifty 50 was at 23953.25, up 330.35 points or 1.4%, and the BSE Sensex was at 76595.07, up 1067.12 points or 1.4%. Technical analysts expect the Nifty 50 to rise to 23800-24100 points, which implies gain of 1-2%.
Shriram Finance and Bajaj Finance were the major gainers in the Nifty 50, up nearly 5% and 4% respectively. Their peers Bajaj Finserv, Jio Financial Services, HDFC Life Insurance Co., and SBI Life Insurance Co. rose 1-4%. InterGlobe Aviation rose nearly 4%. An end to the West Asia war will normalise the airline's operations in the region and bring down fuel costs.
UltraTech Cement, Larsen & Toubro, Asian Paints, Trent, Grasim Industries, Nestle India, Titan Co., Hindalco Industries, and Tata Steel gained nearly 1-2%. Index heavyweights Reliance Industries and HDFC Bank rose nearly 2?ch. On the other hand, healthcare companies Apollo Hospitals Enterprises and Cipla were the worst hit stocks, down around 1?ch.
All the broader market indices were up – the Nifty mid-cap and small-cap indices rose over 1?ch. Barring the Nifty Healthcare and Nifty Pharma, which fell 0.2?ch, all the other sectoral indices gained. Nifty Realty was the top gainer among them, up nearly 3%.
L&T Finance was the top gainer among the Nifty 200 constituents, up nearly 6%. Cholamandalam Investment and Finance Co., Tata Motors and Ashok Leyland gained nearly 4?ch. GE Vernova T&D India was the major laggard, down over 2%. Torrent Pharmaceuticals and Apollo Hospital Enterprises fell nearly 1?ch.
In the Nifty 500, TBO Tek was the top gainer, up over 10%, while Data Patterns (India) was the worst hit, down over 3%. (Adhithya Aji)
Equity Alert: To open higher as US, Iran reach peace deal, oil slumps 5%
MUMBAI--0830 IST--Domestic benchmark stock indices are expected to open higher Monday after the US and Iran reached a peace deal to end the war and reopen the Strait of Hormuz. Crude oil prices, which fell to $83 a barrel, are expected to lift market sentiment.
"This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace. With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!," US President Donald Trump posted on his Truth Social.
In a statement, the Secretariat of Iran's Supreme National Security Council said the deal with the US includes the immediate suspension of hostilities on all fronts, including Lebanon, and an end to the US's naval blockade on Iranian ports. Pakistani Prime Minister Shebaz Sharif said the peace deal would be signed in Switzerland on Friday.
At 0819 IST, Brent crude oil August futures were almost 5% lower than the previous close at $83.19 a barrel. The oil futures fell for the third straight session and shed 10.6% during this period. During the last 30 days, prices fell over 21%. However, oil prices are still over 14% higher from its pre-war level of $72.87 a barrel.
At 0826 IST, the June futures contract of the GIFT Nifty was nearly 2% higher from its previous close at 24025. This was over 400 points higher than the Nifty 50's previous close of 23622.90. "GIFT Nifty is indicating a gap-up opening around 24000, spurred by the US-Iran peace deal," Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. "Going forward, sustained trading above 24000 will confirm a fresh breakout from the downward-sloping channel, potentially leading the index toward the 24400–24500 spot levels in the immediate term."
All equity indices in Asia were significantly higher in early trade. Japan's Nikkei 225 Day and South Korea's KOSPI were the highest gainers, up over 5?ch. In the US equity market, all the three major indices settled higher Friday. (Arundathi A R)
Equity Alert: Markets in Asia surge as Trump confirms peace deal with Iran
MUMBAI--0815 IST--Stock indices in Asia surged Monday as US President Donald Trump said the US and Iran had finally arrived at the much-anticipated trade deal. The crucial Strait of Hormuz would be opened soon, Trump said. "Ships of the World, start your engines. Let the oil flow!," Trump said in a social media post. Pakistan Prime Minister Shehbaz Sharif Sunday said military operations by both the US and Iran would come to a halt. Brent Crude oil futures slipped close to 7% from Friday's highs to $84 per barrel. Japan's Nikkei 225 outperformed its peer indices in Asia to gain around 5.5%. The index also hit a fresh record high.
"The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace. With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!," Trump said in another post on Truth Social. Sharif said the official signing ceremony would take place in Switzerland on Friday.
"The lack of details especially on freedom of shipping is a concern but not one that should constrain markets today as the surge in risk appetite plays out," Sean Callow, a senior forex analyst at ITC Markets, told Reuters.
In Japan, technology, electronics, and automobile stocks advanced. Shares of heavyweights Advantest Corp. were up nearly 8%, SoftBank Group Corp. 13%, and those of Tokyo Electron around 9%. Shin-Etsu Chemical Co. and Panasonic Holdings Corp. were almost 5% higher, Murata Manufacturing Co. 17%, and Mitsubishi Electric Corp. close to 6%. Automobile giants Nissan Motor Co., Mazda Motor Corp., Toyota Motor Corp., and Honda Motor Co. were up 4-6%. The country's broader market index TOPIX was up almost 4%.
In South Korea, the benchmark KOSPI advanced almost 5%. Index heavyweight Samsung Electronics Co. was up over 4% and SK Hynix almost 6%. Other major stocks such as LG Energy Solution, Samsung SDI Co., LG Corp. rose 4.2-6.5%. Meanwhile, the broader market index KOSDAQ gained around 1%.
The following were the levels of major Asian indices at 0814 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4854.4329 | 1.61 |
| Hang Seng Index | 24868.38 | 0.61 |
| Nikkei 225 Day | 69621.19 | 5.45 |
| TOPIX FIRST SECTION | 4023.16 | 3.64 |
| KOSPI | 8522.55 | 4.91 |
| FTSE Singapore Strait Times | 5085.32 | 1.18 |
| S&P/ASX 200 Index | 8918.70 | 1.30 |
(Ruchira Kagita)
Equity Alert: US indices rise Fri, blockbuster SpaceX IPO takes centre stage
MUMBAI--0738 IST--Major US indices ended with gains Friday. The NASDAQ Composite ended higher than the other two major indices, backed by the robust debut of SpaceX, which made Elon Musk the world's first trillionaire. Further, US President Donald Trump said a peace deal with Iran was finally agreed upon and that the Strait of Hormuz would soon be reopened. Cheering the announcement, the E-Mini Dow Futures were up 1% Monday.
The Elon Musk-led SpaceX made a stellar debut on Wall Street. In the world's largest-ever IPO, the stock opened 11% higher than its issue price of $135 at $150. It then ended 20% higher on the NASDAQ. The stock closed at around $161, and the company was valued at $2.1 trillion. "In many ways, you can say that this (SpaceX) was the most difficult sell for the market, because Anthropic and OpenAI have a more clear and present business model," Robert Greifeld, former chief of the Nasdaq, was quoted as saying by CNBC. On Friday, buying interest was also seen in Tesla. Shares of the carmaker were up 2%.
Trade in technology stocks was mixed. Shares of Intel Corp. rose nearly 7%, Advanced Micro Devices 5%, and Qualcomm about 4%. On the other hand, Micron Technology fell 1.4%, Broadcom 1%, Marvell Technology 0.4%, and Meta Platforms 0.3%. Chipmaker Nvidia Corp. was up only 0.2% and Alphabet 0.5%.
For the week, a heavy sell-off in technology stocks weighed on indices, though a recovery was seen in the last two trading days. The NASDAQ closed lower for the second straight week, down 0.2%. The S&P 500 and the Dow Jones Industrial Average, however, managed to advance on a weekly basis as well. The S&P 500 and the Dow Jones were both up around 1?ch.
However, Musk's wealth drew some ire as it brought to light the drastic wealth inequality existing globally. An analysis by Oxfam, a British-founded confederation of 21 independent non-governmental organisations, shows Musk is richer than 46% of the world's population. "A 10% tax on Musk's $1 trillion fortune could end global extreme poverty for a year, lifting over 800 million people above the extreme poverty line," Oxfam said.
The following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
51202.26 | 0.70 |
|
NASDAQ Composite |
25888.844 | 0.31 |
|
S&P 500 |
7431.46 | 0.50 |
(Ruchira Kagita)
US$1 = INR 94.66
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
All prices from National Stock Exchange, unless otherwise specified.
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