Analysts said oil prices eased as tensions in West Asia appeared to moderate, with the United States and Iran refraining from attacking each other’s targets for a third consecutive day. Market sentiment was also supported by reports that diplomatic efforts had made progress towards bringing both sides back to negotiations.
US President Donald Trump said Iran had sought further discussions, claiming it had reached out directly after sustained US strikes. Tehran, however, denied that any direct talks were currently taking place.
Domestic equity markets also traded in positive territory during early deals. The BSE Sensex gained 14.66 points, or 0.02 per cent, to 76,850.44, while the NSE Nifty rose 27.10 points, or 0.11 per cent, to 24,023.45.
Despite the rupee’s strength, foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 1,688.23 crore on Monday, according to exchange data.
With PTI inputs
