Summary of this article
Nifty and Sensex were trading around 2 per cent up each following global cues
Market sentiment improved on renewed optimism of US-Iran peace talks
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 optimisim 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.
(This is a developing story. More updates to follow)
