Today the Indian stock market is witnessing a historic boom and the indices are trading at record levels. Strong buying was seen after the big announcement of peace deal to end the conflict between America and Iran. Sensex opened 1,197 points higher at 76,725.27, while NSE Nifty opened at 23,984.85, showing a huge gain of about 362 points.
**US-Iran peace agreement**
Pakistan Prime Minister Shehbaz Sharif announced that the US and Iran had agreed to end the war and both sides announced an immediate and permanent halt to military action on all fronts. He said the agreement will be officially signed in Switzerland on Friday, June 19. Meanwhile, US President Donald Trump said, “Ships of the world, start your engines,” adding, “Let the oil flow!”
**Asian Market**
An initial agreement has been reached between the US and Iran to end the conflict – which has been going on for the last four months – and its impact is visible on Asian markets today. Asian markets opened with gains on Monday; The Kospi gained 7.01%, while the small-cap Kosdaq rose 3.25%. Similarly, Japan’s Nikkei 225 rose 3.4% and Topix rose 1.8%. Hong Kong’s Hang Seng Index futures were at 24,376, higher than the index’s previous closing of 24,249.29.
**American Stock Market**
Wall Street also witnessed a big rise after the official announcement of the peace agreement between America and Iran. US benchmark futures rose on Monday after Trump said late Sunday that the US and Iran had reached an agreement to end the conflict. Futures tied to the Dow Jones Industrial Average rose 342 points, or 0.7%. S&P 500 futures rose 0.9% and Nasdaq 100 futures rose 1.4%.
**Fall in crude oil prices**
West Texas Intermediate (WTI) crude futures fell a massive 4.45% and were trading at $81.10 per barrel. Meanwhile, Brent crude futures for August delivery were trading at $84.08 this morning, 3.5% below the key psychological level of $85. Crude prices on COMEX were up 4.47% to trade at $81.09 per barrel.