The Sensex has surged for the third straight trading session on back of the US-Iran peace deal. Investors continue to cheer the US-Iran peace deal and the Sensex has surged nearly 3,000 points in three straight trading sessions on the US-Iran peace deal.
for India’s stock markets was also supported by the consistent decline in crude oil prices, easing inflation and growth concerns and hope that clarity, transparency, peace and optimism will persist on all fronts. “Domestic equity markets continued their recovery momentum, buoyed by growing optimism around a de-escalation in US–Iran tensions and softening crude oil prices. The rally was broad-based, with notable gains in IT, realty, FMCG, and oil & gas sectors,” Vinod Nair, Head of Research, Geojit Investments Limited told PTI.
Foreign Institutional Investors (FIIs) turned buyers on Monday, purchasing equities worth Rs 200.05 crore on net basis, according to exchange data released and reported. US and Iran reached an agreement on Sunday to reopen the Strait of Hormuz, a move expected to facilitate the resumption of oil and natural gas shipments via one of the world’s most important energy transit routes and experts as well as industry leaders are welcoming the move and hoping that this will gradually ease supply constraints, inflationary pressures and boost the overall sentiment as well.