Indian Shares Rise As Oil Prices And Bond Yields Dip On US-Iran Diplomacy Hopes

(RTTNews) - Indian shares closed Monday's session higher as oil prices extended slide to their lowest levels in more than a week and global bond yields dipped amid hopes that diplomatic efforts could help ease tensions in West Asia.

Ahead of a crucial meeting this week between U.S. President Trump and Gulf-state leaders on the sidelines of the United Nations General Assembly, Trump warned Iran that it would fail economically or face its leadership being wiped out if it didn't make a deal.

Trump indicated potential for a meeting with Iranian President Masoud Pezeshkian in New York, adding that very big things could happen soon and he is in a "deciding mode" on military action, continued economic pressure or a deal.

Iran said it sent conditions to Washington through Qatar for ending the war and vowed to retaliate harshly to any fresh attacks.

Brent crude prices fell below $102 a barrel today, helping ease concerns around India's import bill, inflation, the current account and pressure on the rupee.

Investors also awaited a planned meeting between Trump and Chinese President Xi Jinping this week for signs of progress in trade discussions.

Ahead of the summit, U.S. Treasury chief Scott Bessent called trade and AI talks with China very successful.

The benchmark 30-share BSE Sensex jumped 564.03 points, or 0.76 percent, to 74,858.99, while the NSE Nifty index rose 67.90 points, or 0.29 percent, to 23,414.30.

The BSE mid-cap index finished marginally lower while the small-cap index edged up 0.1 percent.

The market breadth was neutral on the BSE, with 2,224 shares rising while 2,232 shares declined and 250 shares closed unchanged.

Among the top gainers, Asian Paints, Sun Pharma, Tech Mahindra, ITC, Titan Company, Eternal, HCL Technologies and UltraTech Cement rallied 2-4 percent.

Among the prominent decliners, Adani Ports, Infosys, Power Grid Corp and Bharti Airtel dropped 1-2 percent.