Sensex jumps over 400 points, Nifty tops 24,100 as oil slips below $70/bbl on US-Iran peace talks

Indian markets rallied with Sensex jumping over 500 points and Nifty 50 crossing 24,100, driven by a sharp fall in crude oil prices to $70/barrel on progress in US-Iran peace talks. The rupee strengthened 0.34% to 94.9275 against the dollar while India VIX dropped to 13.19, with Nifty IT leading sectoral gains at nearly 3% and Infosys rising around 3%. Broader markets were positive with around 1,818 stocks advancing on NSE, while auto sales surged 24.1% in June and FII selling tapered according to analysts.