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What is the story about?
US stock futures rose sharply in pre‑market trade after President Donald Trump signalled a temporary de‑escalation in the US‑Iran conflict, proposing a two‑week ceasefire. The announcement came just ahead of his stated deadline for Iran to reopen the Strait of Hormuz, a critical corridor for global energy supplies.
At around 16:40 IST, futures linked to the Dow Jones Industrial Average jumped 1,252 points, or 2.6%, to 48,064, indicating a strong start on the Wall Street. Futures on the S&P 500 and Nasdaq 100 also advanced 2.6% and 3.4%, respectively, to 6,832.7 and 25,198.5.
Market sentiment improved further after Iran’s Supreme National Security Council agreed to reopen the Strait of Hormuz for two weeks, subject to a pause in hostilities.
Oil prices fell sharply on the easing of supply concerns. West Texas Intermediate (WTI) crude futures slid more than 15% to $95.75 a barrel, while Brent crude declined over 13% to $94.40.
Trump said the proposed ceasefire would hinge on Iran keeping the Strait operational, with Israel also reportedly backing the move.
In the previous session on Tuesday, the S&P 500 and Nasdaq Composite edged up 0.08% and 0.10%, respectively, on expectations of a potential ceasefire, while the Dow Jones Industrial Average slipped 85.42 points.
Equity markets in India witnessed a broad‑based rally, with bulls roaring on Dalal Street. The Sensex jumped 2,946 points to close at 77,563, while the Nifty surged 874 points to 23,997.
Equity indices in Asia ended sharply higher Wednesday. South Korea's KOSPI closed higher for the fourth consecutive session, ending nearly 7% higher. China's CSI 300 ended 3.5% higher after closing in the red for the last three sessions.
At around 16:40 IST, futures linked to the Dow Jones Industrial Average jumped 1,252 points, or 2.6%, to 48,064, indicating a strong start on the Wall Street. Futures on the S&P 500 and Nasdaq 100 also advanced 2.6% and 3.4%, respectively, to 6,832.7 and 25,198.5.
Market sentiment improved further after Iran’s Supreme National Security Council agreed to reopen the Strait of Hormuz for two weeks, subject to a pause in hostilities.
Oil prices fell sharply on the easing of supply concerns. West Texas Intermediate (WTI) crude futures slid more than 15% to $95.75 a barrel, while Brent crude declined over 13% to $94.40.
Trump said the proposed ceasefire would hinge on Iran keeping the Strait operational, with Israel also reportedly backing the move.
In the previous session on Tuesday, the S&P 500 and Nasdaq Composite edged up 0.08% and 0.10%, respectively, on expectations of a potential ceasefire, while the Dow Jones Industrial Average slipped 85.42 points.
Equity markets in India witnessed a broad‑based rally, with bulls roaring on Dalal Street. The Sensex jumped 2,946 points to close at 77,563, while the Nifty surged 874 points to 23,997.
Equity indices in Asia ended sharply higher Wednesday. South Korea's KOSPI closed higher for the fourth consecutive session, ending nearly 7% higher. China's CSI 300 ended 3.5% higher after closing in the red for the last three sessions.
Also
read: Dalal Street adds ₹16 lakh crore on Iran ceasefire; relief rally across sectors
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