India's GIFT Nifty jumps on falling oil and US‑Iran talks

India’s GIFT Nifty opened sharply higher on August 3, trading around 24,580‑24,590 points, roughly 200 points above the previous close. The rally was driven by a steep decline in crude oil prices, with Brent futures falling about 4.8% to $83.70 a barrel, and by optimism surrounding renewed US‑Iran peace talks, after President Donald Trump said a large‑scale military strike had been postponed in favor of dialogue.

While Asian markets such as South Korea, Japan and Hong Kong posted losses, U.S. indices rose, reinforcing the positive sentiment. The strong start follows three consecutive days of gains for the Sensex and Nifty. Investors also looked ahead to a busy earnings calendar and a flurry of IPO activity, including listings and offerings from companies like Anawil Wire & Engineering, G.V. Electricals, Fusion Klassroom Edutech, and Manipal Health Enterprises.