Stock markets surge tracking global rally, drop in oil prices as US, Iran reach peace deal

MUMBAI: (Jun 15) Stock market benchmark indices Sensex and Nifty surged in early trade on Monday, mirroring a rally in global equities and a sharp decline in crude oil prices, after the US and Iran finalised a deal to end their 107-day war.

The 30-share BSE Sensex jumped 1,112.70 points to 76,648.74 in early deals. The 50-share NSE Nifty surged 335.55 points to 23,956.40.

The US and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland.