June 15 (Reuters) – Indian shares climbed higher at the open on Monday, tracking a global \u200crally, as oil prices tumbled after U.S. \u200cPresident Donald Trump and Iran’s deputy foreign minister said an initial \u200bdeal had been reached to end the war and resume traffic through the Strait of Hormuz.<\/p>\n
The countries will sign a memorandum of understanding in Switzerland on \u200cFriday, said Pakistani Prime \u2060Minister Shehbaz Sharif, whose country served as a mediator in the negotiations.<\/p>\n
The benchmark \u2060Nifty 50 rose 1.53% to 23,984.85, while the BSE Sensex added 1.59% to 76,725.27, as of 9:15 \u200ba.m. IST.<\/p>\n
The \u200bNifty 50 and Sensex \u200brose about 2% and \u200c2.3% on Friday as optimism of a diplomatic breakthrough in the four-month long U.S.-Iran war boosted risk appetite.<\/p>\n
Other Asian markets jumped 2.9%, while Brent crude dropped 4.6% to about $83 a barrel, the lowest since \u200cMarch. [MKTS\/GLOB]<\/p>\n
Lower oil prices are a \u200bpositive for India, the world’s \u200bthird-largest oil importer, as \u200bthey help ease pressure on inflation, \u200cthe rupee and the country’s \u200btrade deficit.<\/p>\n
All \u200b16 major sectors advanced. The broader small-caps and mid-caps rose 1.6% each.<\/p>\n
Oil marketing companies, tyre, paint \u200bmakers and airlines \u200calso jumped on drop in crude prices<\/p>\n
(Reporting \u200bby Bharath Rajeswaran in Bengaluru; Editing by Sonia \u200bCheema and Nivedita Bhattacharjee)<\/p>\n","protected":false},"excerpt":{"rendered":"June 15 (Reuters) – Indian shares climbed higher at the open on Monday, tracking a global \u200crally, as…\n","protected":false},"author":2,"featured_media":493332,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,49628,189163,85,46,6807,12521,140593],"class_list":["post-493331","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-crude-prices","tag-deputy-foreign-minister","tag-il","tag-israel","tag-oil-prices","tag-president-donald-trump","tag-shehbaz-sharif"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/493331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=493331"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/493331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/493332"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=493331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=493331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=493331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}