Indian markets surged for a second straight session as Sensex gained 380 points and Nifty inched toward 24,400. The rally was driven by growing optimism that the Iran US conflict could de escalate sooner than feared, pulling midcap and smallcap stocks higher too. PSU Banks led sectoral gains amid improving risk appetite.
Traders have placed a $430 million directional wager that oil prices will fall ahead of a Trump ceasefire extension tied to the Iran war. Analysts note this is the third such bet this month and the fourth overall, with prior large positions in March and April reaching $500 million and about $2.1 billion respectively.
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