Crude oil prices plunged 12.5 percent following a US-Iran ceasefire agreement, triggering a sharp sectoral divergence in Indian markets. Oil marketing companies surged as improved margins boosted investor confidence. BPCL climbed 8.6 percent, HPCL jumped 9 percent, and IOC advanced 7 percent. Aviation stocks rallied strongly, with IndiGo gaining over 11 percent as lower fuel costs promise enhanced profitability. Consumption sectors including paints and chemicals also benefited from expectations of reduced input costs. However, upstream oil producers ONGC and Oil India slipped as declining crude prices pressured their earnings outlook. The broader Sensex and Nifty indices posted solid gains amid the easing geopolitical tensions and improved cost environment for several industries.
