By Intense Life Desires 
At 12 noon trade, Nifty 50 was 3.8 per cent or 870.95 points higher at 23,994.30, and the Sensex was trading 3.91 per cent or 2,919.14 points higher at 77,535.72. Among the sectors, Auto index led gains while Nifty Realty and the Nifty Financial Services Ex Bank index also outperformed.
The Asian market also reacted sharply to US Iran ceasefire as Japan’s Nikkei Gains 4.6%.
US President Donald Trump had said he will suspend planned military action against Iran for two weeks following discussions with Pakistani leaders, hours before his deadline given to Tehran ended. In a statement, Trump said the decision came after conversations with Shehbaz Sharif and Asim Munir, who had urged him to delay an attack.
Following the announcement, Iran’s foreign minister, Abbas Araghchi, said in a statement that Tehran had also agreed to Pakistan’s proposal for a ceasefire and that attacks against Iran are halted, Iran will also “cease their defensive operation”. “For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordinationg with Iran’s Armed Forces,” the statement added.
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