Indian shares join global rally after Trump delays Iran grid bombing
Indian shares joined a global rally on Tuesday, after U.S. President Donald Trump postponed the bombing of Iran’s power grid amid conflicting signals about talks between the two sides, with a rebound in heavyweight HDFC Bank lifting the benchmarks. Iran said no negotiations had taken place and launched missiles at Israel after Trump postponed the bombing of its energy infrastructure, citing productive talks with Iranian officials. The Nifty 50 rose 1.78% to 22,912.40 points, while the BSE Sensex added 1.89% to 74,068.45. Other Asian markets gained 1.9%, while Brent crude traded near $102 per barrel. “This seems to be a first step towards de-escalation, although there are contradictory comments from the U.S. and Iran. A drop in oil prices below $90-100 per barrel is crucial for a sustained recovery,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. All 16 major sectors logged gains. The broader small-caps and mid-caps added 2.6% each. India’s largest private lender, HDFC Bank, rose 2.8% after it appointed external law firms to review the resignation letter of former part-time chairman Atanu Chakraborty.