Crude oil prices surged sharply, with US WTI jumping 6.61% to $106.58 a barrel and Brent crude climbing 5.9% to $117.81, extending a rally into its eighth consecutive day. The move was driven by two converging forces: a steep drop in US oil inventories reported by the Energy Information Administration, and no visible progress toward ending the Middle East conflict now in its third month. The EIA inventory data matters because lower stockpiles signal that supply is tightening relative to demand. When reserves fall unexpectedly, traders price in the risk that near-term supply may not be enough to meet consumption, pushing prices higher. The Middle East situation adds a separate layer of risk. Prolonged conflict in a region central to global oil flows keeps a geopolitical risk premium baked into prices. With no signs of resolution, that premium is not coming off soon. For markets, sustained crude above $100 puts pressure on inflation, raises input costs across transport and manufacturing, and complicates central bank rate decisions. Energy stocks may benefit, but broader consumer spending could take a hit if fuel prices stay elevated.
The Indian government has launched an OFS to sell up to 6.5% of its LIC stake, opening for non-retail investors on August 4, 2026, at a floor price of Rs 382 per share, about 11% below Monday's close. The discounted offering is likely to pressure LIC shares in the near term as supply increases sharply.
More than a dozen major Indian companies including Bharti Airtel, ONGC, Pidilite, Nykaa, DLF, and Ather Energy report April-June 2026 earnings on August 4. Results span telecom, energy, consumer goods, real estate, and EV sectors, giving markets a broad read on corporate health mid-earnings season.
Amazon shares hit a new all-time high Monday, pushing its market cap above $3 trillion following a sustained post-earnings rally. The milestone places Amazon among the very few companies globally to reach this valuation, with investor focus on AWS and advertising growth driving the move.
Sensex Gains 500 Points as Oil Falls on Iran Talks
The Sensex rose around 500 points and the Nifty crossed 24,500 on Monday after Donald Trump announced talks with Iran, pushing oil prices lower. IndiGo, ITC, FMCG, and metals led the gains as cheaper crude eased cost and inflation concerns.
