GIFT Nifty gains 800 points after Trump pauses Iran bombings
Business
GIFT Nifty shot up 800 points early Wednesday after US President Donald Trump announced he would pause bombings on Iran for a two-week period.
The catch? Iran needs to fully reopen the Strait of Hormuz.
This move follows calls from Pakistan's leaders for a pause and reopening in the region.
Stocks rise, oil falls below $100
Global markets cheered the news: Dow futures jumped 870 points, while S&P 500 and Nasdaq futures also saw solid gains.
Meanwhile, oil prices tumbled by up to 17% in early Asian trading, sinking below $100 per barrel.