Indian shares join global relief rally on Trump’s Iran comments
Indian shares settled higher on Tuesday, climbing from their lowest levels in nearly a year, as crude oil prices eased in a relief rally enabled by comments from U.S. President Donald Trump read by market participants as de-escalatory. The Nifty 50 ended0.97% higher at 24,261.60 and the BSE Sensex rose0.82% to 78,205.98. The benchmark indexes had posted their sharpest fall in a month on Monday, with the volatility index surging to a 21-month high after crude oil cleared $100 a barrel. Higher crude oil prices are a key risk for net energy importer India. “Today’s market is just reflecting what is happening on the crude side and the global risk-off sentiment taking a backseat temporarily,” said Aishvarya Dadheech, founder and chief investment officer at Fident Asset Management. READ MORE: Indian shares suffer worst fall in a month “However, we will only see a major relief rally in the Indian market when crude goes down to $70 or below, and that will only happen when we have more clarity on the outcome of the war,” Dadheech said.