GIFT Nifty surged nearly 1% after reports suggested the United States may temporarily ease sanctions on Iranian oil exports as part of ongoing diplomatic discussions. The sharp move higher signalled a positive start for Indian equities after volatile trading in the earlier session, when concerns over rising crude oil prices and escalating tensions in West Asia had weighed heavily on market sentiment.
According to reports, Iran’s foreign ministry spokesperson said the country remains focused on ending the ongoing conflict. Iranian news agency Tasnim also reported that the US has proposed a temporary waiver on sanctions related to Iranian oil exports until a final agreement is reached.
