Both the main Indian stock market indices—Sensex and Nifty—closed with gains of more than 1.5 percent on Tuesday. The special thing is that the stock market closed with gains for the third consecutive day. Softening oil prices, expectations of peace talks between Iran and the US, and other factors led to the market’s rise. Bombay Stock Exchange’s benchmark index, Sensex, closed at 79,273.33 points, up 753 points. In the last three consecutive days, the Sensex has seen a total gain of 1,284.65 points, or 1.65 per cent.
The National Stock Exchange’s benchmark index, Nifty, saw a gain of 211.75 points, and closed at 24,576.60 points. The special thing is that in the last three days, Nifty has registered a total gain of 379.85 points, or 1.57 percent. If we look at today’s session alone, stock market investors made a profit of about ₹3 lakh crore. At the same time, during these three consecutive days, investors have made a total profit of ₹ 8 lakh crore.
In the Sensex pack, Trent shares were the top gainers, rising over 4 per cent. Investors are waiting for the company to announce the bonus issue tomorrow. This was followed by shares of Bajaj Finance, which registered a gain of about 3 percent. At the same time, shares of ICICI Bank, HDFC Bank and Adani Ports rose by about 2 percent.
Bucking the trend, shares of Bharat Electronics (BEL), Titan and Reliance Industries fell up to 1 per cent each. This happened as the India VIX—which measures market volatility—fell nearly 6 percent to 17.75. This bullish atmosphere was clearly visible in the broader market as well, where Nifty Smallcap 100 and Nifty Midcap 100 indices registered a gain of 0.7 percent each. Sectorally, the Nifty Realty index gained nearly 3 per cent, and was the best performing sector. **Expectations of Iran-America peace talks**
Trump’s ceasefire deadline for the conflict with Iran is set to expire tomorrow, April 22, keeping investors on edge. However, markets are now expecting this conflict to end soon. Officials of both the countries may meet for the second round of talks this week. Earlier, the first round earlier this month had not resulted in a lasting peace agreement. Nevertheless, a certain degree of caution is still necessary. Iran’s deputy foreign minister, Abbas Araqchi, said that “continued violations of the ceasefire” by the US were hindering further talks. Iran’s chief negotiator and parliament speaker, Mohammad Baqer Ghalibaf, reiterated that Tehran will not engage in talks under pressure or threats of any kind.
Meanwhile, US President Donald Trump went on ‘Truth Social’ and criticized previous American leaders. He alleged that those leaders had made a “very bad” deal with Iran. He further said, “If there is an agreement under the leadership of ‘Trump’, it will guarantee peace, safety and security not only for Israel and the Middle East, but for Europe, America and every corner of the world. It will be something the whole world can be proud of. It will be much better than the years of embarrassment and humiliation we have had to endure at the hands of inept and cowardly leaders!”
**Crude oil around $95**
Oil prices have softened a bit. Brent crude futures are hovering around $95 per barrel, while WTI crude futures have fallen to $88 per barrel. Oil prices remain below the important threshold of $100 per barrel. Oil prices crossed this level for the first time in 2022 after Russia attacked Ukraine. The fall in oil prices comes amid rising expectations of a peace deal between Iran and the US, and the subsequent full resumption of trade through the Strait of Hormuz. The strait is considered an important and strategic route for global oil and trade flows. Meanwhile, according to a Bloomberg News report, Kuwait has declared ‘force majeure’ on oil shipments due to the blockade in the strait. **Boost in global markets**
This rise in Dalal Street (Indian stock market) was seen amid a broad relief rally in global markets. Japan’s Nikkei index gained nearly 1 percent, while South Korea’s Kospi index jumped nearly 3 percent. Hong Kong’s Hang Seng rose more than 0.6 percent, while China’s Shanghai Composite erased all of its morning losses and closed higher.
European markets opened with gains. The UK’s FTSE and France’s CAC were trading marginally higher, while Germany’s DAX… gained more than 0.6 percent. Wall Street had closed with a decline in the last session. The Nasdaq, loaded with technology stocks, fell 0.26 percent after hitting a new record high. However, today Dow Jones futures are trading with gains.