Markets surge as US-Iran truce calms geopolitical jitters, revives global risk-on mood

Global markets surged on reports of a US-Iran truce deal to be signed in Switzerland, with Trump stating the Strait of Hormuz would reopen and the US naval blockade of Iran would be lifted. Indian equities joined the relief rally, with Nifty 50 climbing 1% to 23,853.90 and Sensex gaining 1% to 76,264.33, touching an intraday high of 24,011.40. Institutional flows were positive, with FIIs net buying ₹200.05 crore and DIIs pumping in ₹3,189.26 crore; broader markets outperformed with Nifty Midcap 100 and Smallcap 250 each gaining 1.3%.