Oil prices fell nearly 15% after Iran stated that the Strait of Hormuz is 'completely open,' removing a key risk premium that had been embedded in global crude markets. The Strait of Hormuz is the world's most critical oil chokepoint, carrying roughly 20% of global petroleum supply daily, and any credible threat to its transit had pushed prices sharply higher in preceding sessions. Iran's declaration directly deflated the geopolitical fear driving that premium, triggering a rapid repricing across Brent and WTI futures. The sell-off signals that traders view the closure threat as materially diminished for now, though the underlying tensions between Iran and Western powers that generated the risk premium have not been formally resolved. Energy equities, inflation expectations, and central bank rate calculus all carry sensitivity to sustained oil moves of this magnitude. Observers will watch whether Iran's posture holds and whether physical flows through the Strait confirm the stated openness before markets stabilize at a new baseline.
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.
