US equities pushed to fresh record highs on April 17 after Iran announced the Strait of Hormuz was fully reopened to oil tanker traffic, triggering a broad risk-on rally and a sharp commodity selloff. The S&P 500 gained 0.9%, with two major indices closing at all-time highs, as the removal of one of the market's most closely watched geopolitical risk premiums drove capital rotation from commodities into equities. Brent crude fell below $90 per barrel, dropping roughly 10% on the session, as traders unwound the supply-disruption hedges that had built up while the strait's status was in question. The Strait of Hormuz carries approximately 20% of global oil supply, making its closure or restriction a direct lever on energy prices worldwide. The reopening eases immediate pressure on oil-importing economies and margin-sensitive industries exposed to fuel costs. Watch whether the crude move holds: a sustained drop toward $85 would feed through to gasoline prices within weeks and shift central bank inflation calculus in key markets.
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.
