Sensex, Nifty hit one-month highs as easing US-Iran tensions and shifting oil prices spark relief rally

Indian shares extended their rally to open higher on Thursday as hopes of a peace deal between the U.S. and Iran pulled oil prices lower and ⁠lifted ​sentiment.

The Nifty 50 rose 0.60% to 24,375.55 and the Sensex added 0.64% to 78,613.37 as ​of ​9:18 a.m. IST.

All 16 ⁠major sectors advanced at the open. The broader small-caps ‌and mid-caps rose 1.1% each.

Asian markets traded higher, rising 1.2%.

India’s Nifty 50 and Sensex advanced 1.6% on Wednesday to hit a one-month high ⁠after the ⁠U.S. said talks with Iran could resume soon in ⁠Pakistan.

Brent ‌crude slipped below $95 ​on Thursday after ‌reports that Iran could consider allowing ships to pass through ‌around the Strait ​of ​Hormuz, ​outweighing concerns over ongoing supply disruptions.