Dalal Street bounced back sharply as crude prices cooled below $100 on hopes of a US-Iran de-escalation. Lower oil immediately improved sentiment for India, especially for inflation-sensitive sectors. OMCs led the rally with

BPCL

HINDPETRO

and

IOC

gaining strongly as better marketing margins came back into focus. Banks also saw buying support with

HDFCBANK

and

ICICIBANK

contributing to the index move.

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