Overview
- Global equities rallied after Wednesday reports said Washington and Tehran were close to a one‑page understanding, sending Brent down roughly 8–9% toward $100.
- Iran said the offer remains under review, leaving the status of the Strait of Hormuz unresolved along with US demands on nuclear activity.
- US officials signaled a shift toward diplomacy, with President Trump pausing the ship‑escort effort called Project Freedom after his progress claim, followed by Marco Rubio saying Operation Epic Fury had ended.
- Asia led the surge as Japan’s Nikkei crossed 62,000 to a record and Pakistan’s KSE‑100 jumped nearly 7,000 points, reflecting bets that shipping through the Gulf could restart.
- India’s Sensex and Nifty closed Wednesday up about 940 and 298 points on softer oil, though Thursday trade turned choppy as foreign investors logged heavy net outflows near Rs 5,835 crore.