Indian Shares Reach Two Week High as Oil Prices Retreat
The Nifty 50 and BSE Sensex rose over 1.3% on Monday as Brent crude fell to $97.8 per barrel amid hopes for a U.S. and Iran peace deal. Financial heavyweights HDFC Bank and ICICI Bank led the broad market gains while oil marketing companies also advanced.
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India's Nifty 50 rose 1.32% to 24,031.70 on Monday morning as falling oil prices triggered a recovery in risk assets. The benchmark reached its highest level since May 8, 2026 after Brent Crude Oil futures dropped 5.5% to $97.8 per barrel. Easing energy costs provide relief to Indian markets, which have seen foreign outflows worth $23.86 billion so far this year.
