Deal Optimism Lifts Markets, but Fresh Strikes Cloud the Outlook

Global sentiment turned cautious as optimism around a potential U.S. and Iran deal was tempered by fresh geopolitical tensions, keeping oil prices volatile despite a sharp recent correction. Macro uncertainty persists with elevated inflation risks and a weaker Eurozone outlook.

Indian equities rallied strongly in the prior session, with Nifty breaking above 24,000, driven by improved risk appetite and easing crude.

The rupee also staged a recovery after recent weakness. However, near‑term consolidation is likely amid limited global cues and derivative expiries, with 23,800 now acting as key support and resistance placed at 24,370 – 24,600.