Indian equities rose more than 1 percent on Monday amid optimism over a potential peace deal between the United States and Iran. Broader Asian stocks also posted modest gains following the news. Traders reduced bearish positions as crude oil prices eased.
The Nifty 50 and Sensex indexes climbed significantly, with realty, consumer durables, and auto stocks leading the advances. Hopes of the deal and lower oil prices helped lift market sentiment across the region.
Investors turned their attention to upcoming central bank meetings, including an expected rate decision from the Bank of Japan. Oil prices stayed cautious due to concerns over shipments through the Strait of Hormuz.
The moves marked a shift from recent risk-off trading as geopolitical tensions appeared to ease.
