Sensex Jumps 997 Points as BJP Makes Gains in Bengal; Oil Cools After Trump Guarantees Hormuz Passage

Equity markets rally on election trends and crude relief; rupee weakens past 94.90 against dollar

Indian equity markets staged a sharp recovery on Monday as early election trends showed the Bharatiya Janata Party putting up a strong challenge in West Bengal, while cooling oil prices provided additional relief to investors.

The 30-share Sensex surged 997 points to close at 77,501 levels, while the broader Nifty added nearly 300 points to settle at 24,176. Buying was visible across sectors, with banking and auto stocks leading the charge.

Election Trends Lift Sentiment

Early counting trends from West Bengal indicated that the BJP was giving the ruling Trinamool Congress a tough fight, defying most exit polls. The party also maintained leads in Assam, boosting investor confidence about political stability.

According to traders familiar with market sentiment, the possibility of a change in guard in Kolkata has been interpreted as positive for business continuity in the eastern state.

"The market is reading these leads as a signal for policy predictability," said a senior analyst with a domestic brokerage, requesting anonymity.

Trump Announces Hormuz Passage Guarantee

Oil prices cooled after US President Donald Trump said Washington would begin facilitating the movement of stranded vessels through the Strait of Hormuz for all countries except Iran starting Monday.

"For the good of Iran, the Middle East, and the United States, we have told these countries that we will guide their ships safely out of these restricted waterways," Trump posted on his social media platform.

The announcement came amid heightened tensions in the Gulf region over the past fortnight. While the White House did not specify which countries had sought assistance, officials familiar with the matter said several Asian nations, including India, had expressed concerns over supply disruptions.

Crude Falls Below $108

Brent crude futures dropped to $108 per barrel following the development, marking a sharp decline from last week's highs. The movement brought immediate relief to market participants worried about India's import bill.

Lower oil prices are particularly significant for India, which meets nearly 85 percent of its crude requirements through imports. Any sustained fall could help rein in inflationary pressures that have been building up over recent months.

Asian Markets Rally, US Closed Mixed

Other Asian indices also advanced Monday tracking the positive cues. South Korea's KOSPI jumped over 4 percent, while Hong Kong's Hang Seng added 1.73 percent. Japan's Nikkei posted modest gains of 0.38 percent.

US markets had closed on a mixed note Friday, with the Dow Jones shedding 152 points while the Nasdaq gained 222 points.

Rupee Under Pressure

Despite the rally in equities, the rupee weakened 9 paise to trade at 94.93 against the US dollar in morning deals. Dealers attributed the fall to sustained dollar demand from importers and some foreign outflows.

The currency has been hovering near record lows in recent weeks, pressured by global uncertainties and trade imbalances. A cooler crude price, however, could ease some pressure going forward, according to currency analysts.

What Lies Ahead

Market participants will watch the final election results closely through the day. A clear mandate in key states remains critical for sustaining the current momentum, traders said.

Meanwhile, the oil market's response to Trump's guarantee over the coming days will determine whether the relief is temporary or more durable. The Strait of Hormuz remains a flashpoint, with about a fifth of global petroleum consumption passing through the waterway.

US-Iran Negotiations: Pakistan Army Chief Meets Iranian Officials in Tehran; Turkiye Urges ‘Constructive’ Dialogue

As global markets face unprecedented turbulence due to the ongoing West Asia conflict, Pakistan’s military leadership has landed in Tehran to mediate a potential ceasefire extension between Washington and Tehran.

TEHRAN/ANKARA – In a high-stakes diplomatic move to avert a total global energy collapse, Pakistan’s Army Chief, General Asim Munir, arrived in Tehran on Thursday to hold critical discussions with Iranian leadership. The visit aims to facilitate a secondary round of negotiations between the United States and Iran, seeking to extend a fragile ceasefire that has briefly paused seven weeks of devastating warfare.

Diplomatic Push in Tehran

The Pakistani delegation's arrival coincides with a period of extreme volatility in the Gulf region. General Munir met with Iran’s Parliament Speaker Mohammad Ghalibaf earlier today to discuss de-escalation strategies.

Islamabad has emerged as a central mediator in the conflict, with Prime Minister Shehbaz Sharif also coordinating with Qatar’s Emir to ensure a "close international coordination" for regional stability.

Turkiye Urges Constructive Talks

Adding weight to the peace efforts, the Turkish Defence Ministry issued a stern call for both the US and Iran to remain "constructive" during the negotiation process.

As a NATO member and a direct neighbor to Iran, Turkiye emphasized its commitment to transforming the current temporary pause into a permanent truce to prevent the regional security architecture from becoming "more complex and difficult to manage."

Trump Announces Direct Dialogue

In a surprising development on Truth Social, US President Donald Trump announced that the leaders of Israel and Lebanon are scheduled to speak later today.

If successful, this would mark the first direct communication between the two nations in over 34 years. While the White House remains optimistic about "getting a little breathing room," official sources in Beirut and Tel Aviv have yet to confirm the conversation.

Global Energy Crisis Looms

The urgency of these talks is underscored by a dire warning from the International Energy Agency (IEA). IEA chief Fatih Birol stated that Europe has "maybe six weeks of jet fuel left" due to the continued blockade of the Strait of Hormuz.

The closure of this strategic waterway has triggered what experts call the "largest energy crisis" in modern history, leading to inflated petrol prices and potential flight cancellations across the continent.

Military Escalation Continues

Despite the diplomatic maneuvers, the ground situation remains critical. The Israeli military reportedly destroyed the strategic Qasmiyeh Bridge in southern Lebanon, effectively severing the last link between the Tyre and Sidon regions.

Simultaneously, the US Department of War confirmed that Defence Secretary Pete Hegseth will hold a news conference today to address the ongoing military operations and the Navy's recent loss of an MQ-4C Triton drone over the Persian Gulf.

Internal Political Deadlock

In Washington, domestic efforts to curb the executive's war powers have hit a wall. A resolution aimed at limiting President Trump’s ability to wage war against Iran failed in the Senate for the fourth time.

The US Treasury has further tightened the screws by announcing new sanctions targeting 17 entities and nine vessels linked to Iranian oil trade, signaling that the "maximum pressure" campaign remains in full effect alongside the naval blockade.

Future Outlook Uncertain

The international community now looks toward Pakistan as a potential venue for the next formal round of US-Iran talks. While Iranian officials admit "fundamental disagreements" remain over nuclear stockpiles and enriched uranium, the involvement of regional heavyweights like Turkiye and Pakistan offers a narrow window for de-escalation.

Failure to reach a consensus could see Iran fulfilling its threat to indefinitely block the Red Sea and the Sea of Oman, a move that would Cripple global trade and National and International News cycles for months to come.

Latest News Today confirms that while the path to peace is narrow, the cost of continued conflict has become unsustainable for the global economy. This remains a Trending News India story as regional stability directly impacts domestic fuel prices and trade.