Indian shares rose on Monday as a 5% drop in Brent crude helped, while ​an earnings season so far free of any major upsets, as ‌well as resilient monthly auto sales also supported gains.

The benchmark Nifty 50 (.NSEI) rose 0.67% to 24,546.80, while the BSE Sensex (.BSESN) gained 0.66% to 78,613.05 by 9:49 a.m. IST.

Brent crude ​fell 5.1% to $83.4 a barrel after the U.S. President Donald Trump ​said talks with Iran would happen on Monday but declined to set ⁠a deadline for an agreement.

Trump had earlier called off a planned attack ​on Iran in the hope of quickly reaching a deal to reopen the ​Strait of Hormuz. Lower oil prices are positive for India, which imports the bulk of its energy needs. [O/R]

Cigarettes maker ITC (ITC.NS) gained 3.8%, leading consumer index (.NIFTYFMCG) 1.6% higher, despite a profit drop ​in June quarter, as multiple brokerages termed the cigarette volume beat as ​a positive for future earnings.

Divi's Laboratories (DIVI.NS) rose 3.2% after quarterly profit rise. Urban Company (URBN.NS) surged ‌16% ⁠after reporting a 44% jump in the first-quarter revenue.

Beyond the pullback in Asian memory stocks which has supported domestic equities, foreign inflows, credit growth, auto sales, property activity and power demand have all exceeded expectations, while June-quarter earnings ​have been broadly encouraging, ​Jefferies said.

Fourteen ⁠of the 16 major sectors advanced, while the broader small-cap (.NIFSMCP100) and mid-cap (.NIFMDCP100) indexes rose 1% and 0.6%, respectively.

Financials (.NIFTYFIN), the biggest ​weight on the indexes, gained 1%, led by Bajaj ​Finance (BJFN.NS) and ⁠Bajaj Finserv (BJFS.NS), which rose about 3% each after reporting results.

Zee Entertainment (ZEE.NS) fell 11.3% after India's markets regulator fined the company, its chief executive and chairman emeritus a ⁠combined ​14.8 million rupees.

The regulator also barred CEO Punit ​Goenka and founder Subhash Chandra from the securities market for one year over securities-law violations.