Sensex, Nifty Surge 1.6% on Iran War-End Hopes
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- Pezeshkian signaled Iran's openness to ending the war with the US and Israel provided it receives guarantees against future attacks, while Trump said hostilities would conclude within weeks.
- NSE Nifty climbed 1.6% (348 points) to 22,679.40 and BSE Sensex rose 1.7% (1,186.77 points) to 73,134.32, though both indices pared gains from intraday peaks of 2.8%.
- Brent crude briefly fell below $100 a barrel, trading at $102.70 (down 1.2%) at press time, off the day's low of $98.35.
- Asian markets surged in sympathy: South Korea jumped 8.4%, Japan gained 5.2%, Taiwan rose 4.6%, Hong Kong added 2%, and China advanced 1.5%.
- India VIX dropped 10.3% to 25 as traders tempered near-term risk, though Religare Broking's Ajit Mishra called the move a "breather, not a trend reversal."
- Trump's subsequent social media posts "complicated the message" ahead of a TV address scheduled for 6:30 am India time Thursday, contributing to late-session profit-taking.
- Nifty Media and PSU Bank indices led sectoral gains, each up 3.7%, followed by Nifty Metal (2.5%) and Bank Nifty (2.3%).
Why it matters: The Nifty's 2.8% intraday peak pared to 1.6% at close — and Trump's later social media posts "complicated the message" ahead of a Thursday TV address — tells you traders don't trust the peace narrative. With the Nifty still below the 23,500 level analysts flag for sustained recovery, this is an oversold bounce, not a regime change.
