GIFT Nifty Jumps 3% on US-Iran Ceasefire, Signals Strong Opening for Sensex and Nifty50

Mumbai | 8 April 2026

GIFT Nifty climbed 3.2 percent to 23,839 at 7:17 am on 8 April, signalling a significant gap-up start for Indian equity benchmarks after US President Donald Trump announced a two-week ceasefire with Iran, providing immediate relief to global investors who had navigated six weeks of geopolitical and energy market turbulence.

What Triggered the Global Relief Rally?

Trump’s deal with Iran, under which Tehran agreed to allow ships to pass through the Strait of Hormuz, removed the supply-risk premium that had pushed oil prices sharply higher over the previous six weeks. The conflict had claimed thousands of lives and triggered a global energy crisis. The two-week truce opens a defined window for both sides to negotiate a broader settlement.

Oil prices fell immediately following the announcement:

• US crude futures dropped approximately 16 percent to $94.59 a barrel
• Brent crude declined around 15 percent to $92.35 a barrel

The scale of the decline reflected how heavily geopolitical risk had been priced into energy markets during the conflict.

How Did Global Equities and Currencies React?

Equity markets rallied sharply across all major regions. S&P 500 futures rose more than 2 percent, while European futures surged over 4 percent. In Asia, Japan’s Nikkei climbed close to 5 percent and South Korea’s Kospi soared 6 percent, prompting a temporary trading halt. MSCI’s broad Asia-Pacific index outside Japan advanced around 4 percent.

The US dollar, which had served as the preferred safe-haven currency during the conflict, weakened across the board as investors rotated back into risk assets.

Where Did Indian Markets Close on 7 April?

Ahead of the ceasefire announcement, Indian equities had posted measured gains. The BSE Sensex closed 509.73 points, or 0.69 percent, higher at 74,616.58 on 7 April. The Nifty50 gained 155.40 points, or 0.68 percent, to end the session at 23,123.65. GIFT Nifty’s 3.2 percent rise to 23,839 on the morning of 8 April points to a strong gap-up above those closing levels.

Outlook

The two-week ceasefire provides a defined negotiation window, but markets remain exposed to reversal risk if the truce breaks down. For India, sustained lower crude prices would reduce the import bill, ease inflationary pressure, and support recovery in domestic equities. Investors will monitor closely whether both parties move toward a durable agreement in the coming fortnight.

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