Oil prices collapsed more than 10 percent on Friday after Iran's Foreign Minister Abbas Araghchi declared on X that passage through the Strait of Hormuz is 'completely open for the remaining period of ceasefire,' triggering an immediate repricing across energy and equity markets. Brent crude fell 10.7 percent to $88.74 a barrel and WTI dropped 11.1 percent to $81.07, both sliding below $90 after trading near a peak of $120 during the height of the disruption caused by Iran's interference with the strategic waterway, through which one-fifth of global crude flows. Araghchi's statement was ambiguous, it was unclear whether he referenced the 10-day Lebanon-Israel truce that took effect Thursday or the earlier two-week US-Iran truce begun April 8, but markets responded regardless, with the S&P 500 and Nasdaq Composite extending record highs and European bourses in Frankfurt and Paris each gaining 2 percent. Despite the announcement, the US blockade of Iran's ports remains in force per President Donald Trump, and France and Britain said they would lead a multinational defensive navigation mission in the strait, contingent on a formal regional peace agreement, leaving open the question of how durable the supply relief will prove.
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.
