Sensex Crosses 76,000 as Oil Prices Drop on US-Iran Thaw

Indian equities opened on a firm note on Monday after diplomatic signals indicated progress in talks between the United States and Iran. The Sensex climbed 720 points to settle above 76,100, while the Nifty gained over one percent to hover near 23,967. Sectoral rotation favored defensives and cyclical plays alike. Auto, financial services, and infrastructure counters attracted fresh institutional interest, whereas IT stocks faced mild profit booking. Both midcap and smallcap segments mirrored the benchmark’s strength, pointing to healthy market participation. Crude oil benchmarks tumbled sharply following news that negotiations could soon address the Strait of Hormuz and Iran’s nuclear program. Lower energy costs are expected to ease input pressures for several domestic industries. With Asian and US markets also closing higher, traders remain cautiously optimistic. Focus now shifts to upcoming corporate earnings and policy announcements that could shape the near-term trajectory.