Overview

• A tentative ceasefire between Israel and Iran reduces supply fears, sending crude oil prices lower and lifting global equities
• Indian indices extended gains for a third consecutive session, with the Sensex closing at 82,755.51 and the Nifty at 25,244.75
• The Indian rupee appreciated by 21 paise to 85.87 per US dollar on Wednesday, buoyed by positive global cues and easing geopolitical tensions
• Foreign institutional investors sold shares worth Rs 2,427.74 crore even as domestic institutions bought Rs 2,372.96 crore, highlighting concerns over stretched valuations
• Market attention is shifting to the July 9 expiry of a 90-day pause on US reciprocal tariffs and its potential impact on global trade