MUMBAI: Indian shares closed higher on Tuesday, advancing for a third straight session, as a preliminary US-Iran peace deal cooled oil prices and improved risk appetite.
The Nifty 50 rose 0.57 percent to 23,989.15, while the BSE Sensex added 0.71 percent to 76,808.48, gaining 3.6 percent and 4 percent, respectively, in three sessions.
Eleven of the 16 major sectors traded higher, while the broader small-cap and mid-cap indexes rose 0.4 percent each.
Elsewhere in Asia, markets gained 0.8 percent, while Brent crude fell about 2 percent to USD81.6 a barrel, a positive for oil-importing India.
“The moderation in oil prices to about USD82 a barrel, alongside India’s stable macro fundamentals, steady interest rates and controlled inflation, augurs well for domestic markets after the year-to-date underperformance versus emerging-market peers,” said Vinit Bolinjkar, head of research at Ventura Securities.
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