surged by 340 points and opened at 23,984 and the Sensex spiked over 1,100 points and opened at 76,725. Oil marketing companies’ stocks surged by gaining over 4 percent. Broader markets also gained by over 1 percent in early trade. Crude oil prices declined by over 5 percent post the announcement of the deal and Brent Crude has slipped below 84 dollars a barrel. The rupee also strengthened and opened higher by 43 paise at 94.68/$ as the US-Iran peace deal boosted global investor sentiment.
Independent market analyst, Ambareesh Baliga on Timesnownews.com said, “as an analyst one needs to study personalities of important political figures like US President especially when the person is so unpredictable. It was quite clear that he was looking for an honourable exit from the Iran mess. Despite the truce being announced and multiple rounds of talks, the decision was getting postponed. Generally birthdays are one of those most important days in the year for any individual. What better than telling the world that you have given a “gift of peace” on your birthday, especially when he wants to be seen as an “angel of global peace. US President Donald Trump on Sunday announced that an agreement has been reached with Iran and that the United States will end its naval blockade, allowing the Strait of Hormuz to reopen. In a post on his Truth Social platform on Sunday, Trump described the agreement as complete, saying: “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!”
Independent market analyst, Ambareesh Baliga believes, while the “markets are opening gap up – Sentimentally very positive especially since we have been waiting for this announcement for long. However, the accord will be signed on Friday – so there can be a slip between the cup and the lip.”