US-Iran ceasefire deal: What does the reopening of Strait of Hormuz mean for the Indian stock market?

The US-Iran ceasefire and reopening of the Strait of Hormuz triggered a broad rally in Indian equities, with the Nifty 50 surging over 3.5% in three sessions to trade near 24,000. Crude prices fell sharply — Brent down 2.2% to $81.33/bbl and WTI down 2.4% to $78.81/bbl — easing concerns over India's import bill, CAD, and inflation. Oil-importing sectors like OMCs, aviation, paints, and manufacturing are expected to benefit from margin expansion, while upstream producers like ONGC and Oil India may face earnings pressure.