Sensex surges over 900 points on hopes of U.S.-Iran deal
Business
The Indian stock market kicked off Monday with a bang; Sensex soared over 900 points and Nifty crossed 23,900, as news broke about a possible U.S.-Iran agreement to ease tensions and reopen the Strait of Hormuz.
The upbeat mood reflected hopes that global oil supplies would stabilize.
Midday gains tempered by Israeli remarks
By midday, Sensex was still up by 932 points at 76,460 and Nifty held strong near 23,913.
But things got a bit shaky after Israel's defense minister said their forces would stay in Lebanon, Syria, and Gaza despite calls to pull back.
That reminder of ongoing conflicts (and some investors cashing in after recent big gains) kept markets from climbing higher.