Nifty, Sensex Up Nearly 2%: Sentiment Improves As Trump Suggests Peace Talks With Iran

Indian stock markets opened in green following positive moves in the US and Asia markets. Both the Nifty and Sensex benchmark indices were around 2 per cent up each after US President Donald Trump suggested a second round of peace talks with Iran during the week.

The Nifty was trading 400.9 points higher at 24,243.55 while Sensex was trading 1,301.36 points up at 78,148.93. Stock markets were closed on April 14 on the occasion of Dr. Baba Saheb Ambedkar Jayanti and Baisakhi.

"You should ​stay there, really, because something could be happening over the ​next two days, ​and we're more inclined to ‌go ⁠there," Trump was reported as saying by New York Post. The renewed optimism led to fall in crude oil prices, with Brent crude oil prices falling to $95 per barrel.

"Hopes of resumption of US-Iran talks, Israel-Lebanon talks and crash in Brent crude by $10 dollars in two days augur well for the market in the near-term. The resilience of markets worldwide, despite the IMF’s warning about a global recession if the conflict prolongs, is an indication that the market is discounting an end to the conflict soon," VK Vijayakumar, chief investment strategist at Geojit Investments, said.

Market sentiments improved on April 15 with broad-based gains seen across sectoral indices. The gains in the markets were led by IT, financial services, metals, and PSU banks, signalling increased risk appetite. Auto and FMCG sectors also showed steady traction, with overall sustained buying interest. Meanwhile, the pharmaceuticals and healthcare sectors lagged slightly. Broader markets also showed an uptrend, with the Nifty Midcap and Smallcap indices trading over 2 per cent each.

Interglobe Aviation led gains in the Nifty 50 index, with shares of the company up nearly 5 per cent at Rs. 4,638.20 per share. Crude oil prices dropped. A fall in crude oil prices is expected to reduce aviation turbine fuel (ATF) costs for the airline. This was followed by shares of Eternal trading over 4 per cent, and Hindalco trading 3.7 per cent higher. L&T were also among the top gainers on the Nifty, trading 3.4 per cent higher.

Shares of oil-sensitive companies also surged on April 15. Among oil marketing companies (OMCs), shares of Bharat Petroleum Corp rose over 4.4 per cent, Hindustan Petroleum Corp shares traded around 4.7 per cent up, while Indian Oil Corporation shares rose nearly 3 per cent.