Nifty reclaims 24,000 as global risk appetite rebounds

The key equity benchmarks surged on Monday as plunging crude oil prices and rising hopes of a US-Iran peace deal sparked a powerful risk-on rally across global markets. Robust buying in banking and financial stocks propelled the Nifty decisively above the 24,000 mark, while broad-based momentum lifted all sectoral indices on the BSE into positive territory.

The S&P BSE Sensex surged 1,073.61 points or 1.42% to 76,488.96. The Nifty 50 index added 312.40 points or 1.32% to 24,031.70. in the past two trading sessions, the Sensex and Nifty increased 1.74% and 0.91%, respectively.

Larsen & Toubro (up 2.71%), HDFC Bank (up 2.67%) and ICICI Bank (up 2.11%) boosted the indices today.

In the broader market, the BSE 150 MidCap Index jumped 0.80% and the BSE 250 SmallCap Index gained 1.22%.

The market breadth was strong. On the BSE, 2,703 shares rose and 1,607 shares fell. A total of 237 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slumped 6.74% to 16.70.

4th Fuel Price Hike:

Petrol and diesel prices were raised again on Monday, May 25, 2026, marking the fourth increase in fuel rates within a span of 10 days. State-run oil marketing companies increased prices by an average of Rs 2.80 per litre across the country, pushing retail fuel rates to fresh highs in major metros.

In Mumbai, petrol prices climbed to Rs 111.21 per litre and diesel to Rs 97.83 per litre.

The latest hike comes after oil companies resumed daily fuel price revisions on May 15 following a four-year freeze. Petrol and diesel prices were first increased by Rs 3 per litre on May 15, followed by hikes of 90 paise each on May 19 and May 23. With Monday?s revision, cumulative increases in fuel prices have now reached nearly Rs 7.5 per litre in less than two weeks.

Numbers to Track:

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.25 compared with its close of 95.60 during the previous trading session.

The yield on India's 10-year benchmark federal paper shed 0.86% to 7.027 compared with previous session close of 7.088.

MCX Gold futures for 5 June 2026 settlement rose 0.42% to Rs 159,350.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.25% to 98.99.

The United States 10-year bond yield declined 2.06% to 4.479.

In the commodities market, Brent crude for June 2026 settlement tumbled $5.76 or 5.56% to $97.78 a barrel.

Global Markets:

The US Dow Jones index futures were up 422 points, signalling a strong opening for Wall Street later today.

European shares advanced on Monday after hopes of a possible US-Iran agreement strengthened over the weekend.

Media reports said Washington and Tehran had reached an in-principle agreement to end their more than two-month-long conflict.

A key part of the proposed agreement includes reopening the Strait of Hormuz, through which nearly one-fifth of global oil supplies pass. Tanker traffic through the route had remained severely disrupted for weeks, triggering a spike in crude prices and stoking global inflation concerns.

Asian markets also ended higher. Japan?s Nikkei 225 crossed the 65,000 mark for the first time to hit a record high in holiday-thinned trade. Investor sentiment improved after reports indicated that the Strait of Hormuz could reopen soon, leading to a sharp decline in oil prices and boosting risk appetite.

Markets in Hong Kong and South Korea remained shut for public holidays. US markets will also remain closed on Monday for the Memorial Day holiday.

Investor sentiment received further support after US President Donald Trump reportedly said negotiations with Iran were ?proceeding in an orderly and constructive manner.? Trump also said he had instructed his representatives ?not to rush into a deal? as ?time is on our side.?

Oil prices dropped more than 5% following Trump?s remarks, easing pressure on global markets. Crude prices had surged earlier after the Trump administration imposed a blockade on Iranian ports and Tehran effectively closed the Strait of Hormuz, a key global energy shipping route.

On Friday, Wall Street ended higher as easing Treasury yields helped major indices extend weekly gains despite heightened volatility. The Dow Jones Industrial Average rose 294.04 points, or 0.58%, to 50,579.70. The index also touched a fresh intraday record high. The S&P 500 gained 0.37% to close at 7,473.47, while the Nasdaq Composite added 0.19% to settle at 26,343.97.

Stocks in Spotlight:

Universal Cables surged 7.30% to Rs 1,111.80 after the company reported strong quarterly earnings. On a consolidated basis, the company reported a net profit of Rs 55.32 crore in Q4 FY26, up 11.33% YoY and 103.46% QoQ. Revenue from operations rose 24.66% YoY to Rs 840.27 crore in Q4 FY26, while increasing 9.42% QoQ from Rs 767.92 crore.

Gujarat Themis Biosyn surged 5% after the company announced the acquisition of Japan-based MicroBiopharm Japan Co. (MBJ) for about JPY 21.5 billion, or nearly Rs 1,300 crore. The company has signed a definitive agreement to acquire 100% equity stake in MBJ through a wholly owned special purpose vehicle to be incorporated in Japan. The transaction is expected to close in Q2 FY27, subject to regulatory approvals and customary closing conditions.

NBCC (India) gained 2.11% after the company?s consolidated net profit jumped 37.22% to Rs 241.38 crore on 1.81% rise in revenue from operations to Rs 4559.79 crore in Q4 FY26 over Q4 FY25.

Park Medi World surged 7.42% after the company announced the acquisition of The Medicity Hospital in Rudrapur, Uttarakhand, for around Rs 177 crore. The acquisition will be carried out through the purchase of V3 Healthcare, which operates The Medicity Hospital. The transaction will be completed in two phases, with 80% stake acquisition expected by 31 August 2026 and the remaining 20% by 30 April 2030.

Maruti Suzuki India added 1.41% after the company reported 19% increase in total production to 2,31,933 units in March 2026, compared with 1,94,901 units produced in March 2025.

Precision Wires India rallied 5.75% after the company?s standalone net profit climbed 45.58% to Rs 54.87 crore on 30.41% increase in revenue from operations to Rs 1,743.45 crore in Q4 FY26 over Q4 FY25.

Jupiter Wagons gained 6.93% after its subsidiary, Jupiter Electric Mobility (JEM), signed strategic agreements with renewable energy firms Chalukya Power and Pickrenew Energy for Battery Energy Storage System (BESS) projects.

India Pesticides jumped 5.72% after the company reported a strong performance for the fourth quarter of FY26, with consolidated net profit rising 43.70% to Rs 31.04 crore, compared with Rs 21.60 crore in Q4 FY25. Revenue from operations increased 28.59% YoY to Rs 266.49 crore in the quarter ended 31 March 2026.

Colgate Palmolive (India) fell 2.86% after it has reported 0.47% marginal decline in standalone net profit to Rs 353.32 crore in Q4 FY26 as against Rs 355 crore in Q4 FY25. However, revenue from operations jumped 9% year on year (YoY) to Rs 1,582.77 crore in Q4 FY26 over Q4 FY25.

RailTel Corporation of India added 2.72% after it has received a work order from NewSpace India (NSIL) for supply, installation, commissioning, and operation & maintenance of upgradation of IT infrastructure.

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