Indian equities experienced a significant uptick on Monday following a reduction in tensions in the Middle East and the release of strong second-quarter results from private sector lender, ICICI Bank.
In European markets, oil prices dropped nearly 6 percent to a four-week low. This decline followed Israel's recent attack on Iran, which notably did not impact oil or nuclear facilities. Consequently, Iran indicated a restrained response to the incident.
No evidence emerged to suggest any damage to Iranian oil or nuclear sites, and state media reports confirmed that the nation's oil industry operations were continuing as usual.
The S&P BSE Sensex index advanced by 602.75 points, or 0.76 percent, reaching 80,005.04. This development broke a week-long trend of losses due to gains seen broadly across the market.
The NSE Nifty index similarly gained ground, rising by 158.35 points, or 0.65 percent, to close at 24,339.15. This occurred despite some profit-taking prompted by a strengthening dollar and increased U.S. Treasury yields.
Key performers in the market included Shriram Finance, Adani Enterprises, ICICI Bank, JSW Steel, Adani Ports, Mahindra & Mahindra, Wipro, Tata Steel, and Sun Pharma, each seeing increases in the range of 2 to 5 percent.
