Sensex Rises 550 Points, Nifty Surpasses 22,850 Amid Ceasefire Talks Between Iran and US
Market Rebound Amid Reports of Iran-US Ceasefire Plan
The Indian benchmark equity indices, Sensex and Nifty, experienced a sharp rebound in Monday's trading session following reports that a plan to end hostilities between Iran and the United States has been received, with an immediate ceasefire in effect.
According to market data, at around 1:25 pm, the Sensex was up 546.46 points or 0.75 percent at 73,866.01, while the Nifty was at 22,868.80, up 155.70 points or 0.69 percent.
The reported plan, which could come into effect on Monday and reopen the Strait of Hormuz, has been put together by Pakistan and exchanged with Iran and the United States overnight. The framework outlines a two-tier approach, with an immediate ceasefire followed by a comprehensive agreement.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Key Statistics
| Index | Previous Close | Current Close | Gain/Loss |
|---|---|---|---|
| Sensex | 73,319.55 | 73,866.01 | 546.46 (0.75%) |
| Nifty | 22,713.10 | 22,868.80 | 155.70 (0.69%) |
The source, cited by Reuters, stated that all elements need to be agreed upon today, with the initial understanding structured as a memorandum of understanding finalized electronically through Pakistan, the sole communication channel in the talks.
Investor Takeaway
Market may see a positive trend due to ceasefire talks between Iran and US.
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