Nifty 50 Outlook, June 18 -- Indian equity benchmarks have staged a sharp rebound in recent sessions, with the Nifty 50 rising nearly 4.5% in 5 sessions. The rally has been driven largely by easing geopolitical tensions in West Asia following the US-Iran truce agreement, which triggered a sharp decline in crude oil prices and boosted investor sentiment.

Nifty is currently trading around the 24,100 mark. Moreover, decline in Brent crude prices following the US-Iran peace deal also aided the bbullish sentiment. According to market experts, Brent crude has fallen from above US$95 per barrel during the conflict phase to around US$78-79 per barrel currently, representing a drop of nearly 15-20% in less than two weeks.

The decline in oil pric...