Updates for morning trade

By Bharath Rajeswaran and Vivek Kumar M

May 25 (Reuters) - Indian share benchmarks rose on Monday, after crude oil prices fell below $100 per barrel for the first time in more than two weeks on prospects of a deal to end the Iran war.

U.S. President Donald Trump said on Saturday that Washington and Iran had "largely negotiated" a memorandum of understanding on a peace deal that would reopen the Strait of Hormuz, which carried a fifth of global oil and LNG shipments before the war.

Global investors seemed to brush aside Sunday's warning from Trump that played down prospects of an imminent breakthrough in the three-month-old war.

Brent crude LCOc1 was down 5.6% at $97.8 per barrel. Asian stock markets .MIAPJ0000PUS rose 1.3% MKTS/GLOB O/R

India's benchmark Nifty 50 .NSEI rose 0.94% to 23,941.85 and the BSE Sensex .BSESN added 1.02% to 76,194.32, as of 9:45 a.m. IST.

"Easing concerns around Middle East tensions have improved the overall risk appetite among investors, and this may continue to support bullish momentum in the near term," said Hitesh Tailor, research analyst at Choice Equity Broking.

All 16 major sectors logged gains in India. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 advanced 1.2% and 0.7%, respectively.

However, resistance may emerge at the 24,000 level for Nifty, as markets seek greater certainty after several similar expectations have failed to fructify since the start of the Iran war, two analysts said.

Oil marketing companies such as BPCL BPCL.NS, HPCL HPCL.NS, Indian Oil IOC.NS gained between 4% and 4.5%.

The state-owned fuel retailers also increased diesel and petrol prices for the fourth time this month to recoup some losses.

Index heavyweights HDFC Bank HDBK.NS and ICICI Bank ICBK.NS gained 2% and 1.3%, respectively.

Eicher Motors EICH.NS climbed 5.7% after the automaker beat quarterly profit estimates, aided by strong demand.