Mumbai (Maharashtra) [India], March 25 (ANI): The domestic equity markets continued their rebound on Wednesday, opening in the green as investor sentiment improved amid reports of a possible truce between the United States and Iran.

The Nifty 50 opened at 23,064.40, gaining 152 points or 0.66 per cent, while the BSE Sensex rose by 581.67 points or 0.79 per cent to open at 74,650.12.

Market participants remained cautiously optimistic, even as volatility persisted due to uncertainty around geopolitical developments.

Ajay Bagga, banking and market expert, told ANI, 'Indian markets are poised to open in the green, but with a market holiday tomorrow, expect volatile, skittish markets. May peace prevail in these dark times for the global economy and markets. So finally, the US is announcing a grand truce to open the Strait of Hormuz, which was, anyway, open for the last 5000 years before this conflict. Markets are like lemmings, hanging on slender threads of optimism on every statement from the Trump administration.'

He added that the situation on the ground remains fluid. 'In the meantime, Israel and Iran keep sending missiles to each other's territories, and the US is bringing in troops. With the first batch of US troops reaching the Gulf by the weekend, some action may be possible. Markets will be wary of the spins coming out and watch for actual progress on the ground,' he said.

Crude oil prices showed signs of easing, with Brent crude declining by 4.78 per cent to USD 99 per barrel, providing some relief to global markets.

In the commodities segment, gold prices rebounded sharply, rising 3.37 per cent to Rs 143600 per 10 grams for 24 karat gold. Silver prices also gained 4.82 per cent to Rs 234542 per kg.

Sectoral indices on the NSE reflected broad-based buying, with most sectors trading in the green except IT. Nifty Auto rose 1.47 per cent, Nifty FMCG gained 0.61 per cent, Nifty Media advanced 1.30 per cent, Nifty Metal climbed 1.23 per cent, Nifty Pharma increased 0.64 per cent, Nifty PSU Bank gained 1.19 per cent, Nifty Realty rose 1.39 per cent, and Nifty Oil and Gas surged 0.91 per cent.

Global cues were also supportive, with US futures and Asian markets trading higher on hopes of a potential one-month ceasefire.

This movement was driven by the United States' decision to suspend airstrikes on Iran's energy infrastructure, citing ongoing talks and the possibility of peace. However, uncertainty remains as Iran has denied being in direct or indirect talks with the United States, even as US President Donald Trump claimed that 'very good and productive conversations' are taking place.

In Asian markets, Japan's Nikkei 225 rallied 2.20 per cent to 53402, Singapore's Straits Times rose 0.44 per cent to 4883, Hong Kong's Hang Seng index gained 0.23 per cent to 25134, Taiwan's Weighted index surged 2.68 per cent to 33485, and South Korea's KOSPI advanced 1.60 per cent to 5642.

In contrast, US markets ended lower on Tuesday. The Dow Jones declined 0.18 per cent to close at 46124, the S&P 500 fell 0.37 per cent to 6556, and the Nasdaq dropped 0.84 per cent to 21761. (ANI)