New Delhi [India], April 15 (ANI): The Indian stock markets opened sharply higher on Wednesday, tracking a strong rally in global markets as hopes of a pause in the West Asia conflict pulled crude oil prices lower and lifted investor mood.Benchmark indices jumped at the open, with sentiment getting a big boost from signs of progress in US-Iran talks. Brent crude fell as low as $93, easing fears of an energy shock and giving markets reason to cheer.

The Nifty 50 index rose 1.4 per cent to 24,178.50 points in early trade on Wednesday, and the BSE Sensex index jumped 1.5% or 1,112.44 points to 77,945.15 points. All sectoral indices were in the green with the Nifty IT Index as the biggest gainer during the session, rising 2.6 per cent to 31,459.00 points.

Global cues were strong overnight. The Nasdaq climbed 2 per cent while the S&P 500 finished up 1 per cent and near its record closing high, helped by hopes of a Middle East resolution and fresh US bank earnings and inflation data.

Asian shares opened higher on Wednesday, tracking Wall Street's gains. Indian stock futures also pointed to continued positive momentum.

Market expert Ajay Bagga said investors are running on 'geopolitics and vibes' right now. 'Markets are currently operating on a diet of 'geopolitics and vibes,' where optimism about a second round of peace talks is single-handedly offsetting the friction of a naval blockade,' he said. Both WTI and Brent fell after US President Trump signalled the war is 'close to over.'

Despite the optimism, risks remain on the ground. 'The US military naval blockade of Iranian ports is active,' Bagga noted. 'While a two-week ceasefire is technically holding, the Strait of Hormuz remains a primary risk factor for global energy security.'

A high-level call between PM Modi and President Trump on Tuesday also added to the positive mood. 'Both leaders stressed the absolute necessity of keeping the Strait of Hormuz open for global trade,' with bilateral ties and West Asia stability on the agenda.

Sunny Agarwal of SBI Securities said, 'It should be a good day for the Indian stock markets as the investor sentiment will be buoyed by progress in negotiations between the US and Iran as the conflict came to a halt and got a two-week window,' he said. The Brent falling as low as $93 augurs well for the market, and he added that a stronger rupee, lower inflation, and falling crude oil are expected to support Indian equities, with real estate and automobile sectors in focus.

'Markets are also expected to react to company-specific earnings,' Agarwal said. A below-average monsoon forecast may also help summer product companies, as demand for ACs and other cooling products could rise in the near term.

The market is betting on a 'Trump-brokered peace.' As Bagga put it, 'If the second round of talks in Pakistan or Geneva materializes, expect oil to test the $90 support level. If they stall, the Hormuz blockade will once again take center stage.' (ANI)