Hopes of IRAN-US Breakthrough Bouy Markets 

Indian markets posed to open the week on a constructive note, buoyed by progress on two high-stakes diplomatic fronts. 

President Trump described U.S.-Iran nuclear talks as proceeding in an “orderly and constructive manner” signaling deliberate negotiations, while separately confirming that an agreement including the reopening of the Strait of Hormuz and a binding pledge against Iranian nuclear acquisition is “largely negotiated” with an announcement expected soon. 

Consultations with regional stakeholders Saudi Arabia, the UAE, Qatar, and Israel suggest Washington is framing this as a broader Gulf security and energy-flow framework rather than a narrow bilateral pact. 

Brent crude slipped below $100/bbl on expectations that restored Hormuz access would ease supply-chain anxiety.

On the trade front, Secretary of State Marco Rubio, said India and the U.S. are working through the “very final details” of a bilateral trade agreement, expressing confidence a deal could be formalised within weeks a development that would meaningfully deepen one of the world’s most consequential economic partnerships.

U.S. equities continue to demonstrate resilience, with the S&P 500 extending its winning streak to eight consecutive weeks even as Treasury yields press back toward recent highs. 

The durability of the rally rests squarely on corporate earnings: the Magnificent Seven delivered average first-quarter earnings growth of 63% the strongest in nearly six years compared with 17% for the remaining 493 S&P constituents, underscoring how AI-driven mega-cap outperformance is carrying the broader index. While elevated rates remain a valuation headwind and a source of potential volatility, profit momentum is more than offsetting the pressure for now.

Asian equities are broadly firmer this morning. Japan’s Nikkei surged, reflecting receding geopolitical risk and steady global growth expectations. 

Nifty continued its alternating pattern for the seventh consecutive session, and settled at 23719 On Friday, with a gain of 64 points. Strong support 
is placed near 23,400, coinciding with an upward sloping trendline connecting recent higher lows.

Nifty is poised for a strong gap-up open near 23,900, decisively clearing the 23800 resistance on the back of firm global cues.