Indian markets rise as US-Iran talks lift optimism; Brent slips under $100
Indian markets rise as US-Iran talks lift optimism; Brent slips under $100
Indian benchmarks Sensex and Nifty jump in early trading as Brent crude stays below $100 amid renewed US-Iran diplomacy.
Indian equity benchmarks extended gains in the early trade on Tuesday as investors bet on a potential thaw in West Asia tensions following reports of a second round of talks between the U.S. and Iran. The optimism came even as global oil prices hovered near recent ranges, with Brent crude trading below the $100 per barrel mark, easing some concerns about energy-led inflation.
The 30-share BSE Sensex rose 445.82 points to 78,966.12, while the 50-share NSE Nifty climbed 121.15 points to 24,486 in the opening hours of trading. Sectoral leadership appeared broad-based, with financials and information technology among the gainers, while metal and energy counters also tracked higher on the optimism.
Markets have been watching developments in West Asia closely, hoping that renewed diplomacy could reduce risk premia and provide some stability to commodity prices, including oil. Traders noted that a softer crude outlook can support consumer and corporate margins, which in turn could sustain earnings optimism for Indian companies.
Beyond the headlines on geopolitics, domestic cues such as positive domestic earnings and improving macro data have kept investors engaged. Analysts cautioned that the mood remains fragile and that markets could swing on headlines from Washington and Tehran or shifts in oil supply expectations. Still, at the start of trade, buyers dominated the action, suggesting that the path of least resistance for equities could remain upward in the short term.
