Indian Equities Rally on Monday as US-Iran Peace Deal Lifts Sentiment
Indian benchmark indices climbed nearly 1% on Monday as investors welcomed a peace agreement between the U.S. and Iran.The truce ended nearly four months of conflict, easing geopolitical concerns. The agreement boosted risk appetite across global markets and triggered broad-based buying in Indian equities.The BSE Sensex rose 736.38 points, or 1%, to close at 76,264.33, while the NSE Nifty 50 gained 231.00 points, or also 1%, to settle at 23,853.90.Lower crude oil prices added to the positive mood.Analysts believe market participants will now focus on the progress of the monsoon season, potential El Niño-related risks, and the upcoming earnings season for clues on corporate growth and profitability.In corporate developments, four Vedanta Group companies - Vedanta Aluminium Metal (NSE:VAML, BOM:544780), Vedanta Power (NSE: VEDPOWER, BOM:544781), Vedanta Oil & Gas (NSE:VOGL, BOM:544782), and Vedanta Iron & Steel (NSE:VISL, BOM:544784) - began trading on Indian exchanges, completing the group's demerger into sector-focused businesses.Meanwhile, Bharti Airtel (NSE:BHARTIARTL, BOM:532454) said nearly all shareholders approved a transaction that will increase its effective stake in Airtel Africa to about 79%. The deal involves the issuance of equity shares to a promoter group entity and does not require any cash outflow.