GIFT Nifty jumps nearly 3% on US-Iran truce hopes
GIFT Nifty, which tracks India's top 50 companies, shot up nearly 3% at around 5pm.
The boost came right after US President Donald Trump announced a five-day pause on planned military strikes against key sites in Iran, a move that eased worries about oil supply disruptions for India.
Why the spike?
Energy risks from Middle East tensions can push up crude oil prices, which in turn can lead to higher fuel costs and market volatility.
With Trump holding off on military action and saying talks are aimed at a "complete and total resolution," GIFT Nifty rose nearly 3%, suggesting some market relief.
How global events affect Indian markets
GIFT Nifty futures trade across about 19 hours 20 minutes a day (two sessions: 6:30 am-3:40pm IST and 4:35 pm-2:45am IST), letting investors react quickly to global news like this.
That flexibility means big world events can impact Indian markets almost instantly.