Indian Shares Rally Amid Hopes Of US-Iran Peace Talks
(RTTNews) - Indian shares rallied on Tuesday as investors pinned hopes for a resolution to the U.S.-Iran war ahead of a potential ceasefire deadline.
With a two-week ceasefire expiring in hours, a senior Iranian official reportedly said the country would attend peace talks with the United States in Pakistan.
U.S. Vice President JD Vance will travel to Pakistan today for talks, Axios reported, but uncertainty prevails over whether Iran will attend the talks.
"We have been preparing to show new cards on the battlefield," in the last two weeks and would "not accept negotiations under the shadow of threats," Iran's parliamentary speaker Mohammad Bagher Ghalibaf wrote on X.
U.S. President Donald Trump said the blockade or Iranian ports would not be lifted until an agreement had been reached and that Iran is losing $500 million dollars a day, which is unsustainable for Tehran.
Trump also asserted that any new deal with Tehron would be "far better" than the 2015 Joint Comprehensive Plan of Action (JCPOA).
The benchmark BSE Sensex surged 753.03 points, or 0.96 percent, to 79,273.33, driven by positive sentiment prevailing in global markets and steadier oil prices.
The broader NSE Nifty index jumped 211.75 points, or 0.87 percent, to 24,576.60 while the BSE mid-cap and small-cap indexes gained 0.6 percent and 0.7 percent, respectively.
FIIs have turned net buyers in recent sessions, providing liquidity support to the market.
The market breadth was strong on the BSE, with 2,532 shares rising while 1,762 shares declined and 159 shares closed unchanged.
Among the top gainers, Axis Bank, HDFC Bank, Bajaj Finance, ICICI Bank, Hindustan Unilever and Trent rallied 2-4 percent.
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