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Gift Nifty surges 700 points as Trump delays Iran strikesDonald Trump pauses Iran strikes for five days, GIFT Nifty jumps 3 percent, Sensex and Nifty50 eye rebound as talks seek reopening of Strait of Hormuz.By Bhupendra Paintola  March 23, 2026, 5:52:24 PM IST (Published)2 Min ReadGIFT Nifty is indicating a sharp rebound after a bruising sell-off on Monday, March 23, after a potential thaw in the West Asian conflict as US President Donald Trump announced a five-day pause on proposed military strikes on Iranian power infrastructure, citing progress in ongoing talks with Tehran.

At 5:30 pm, the futures were up 689.5 points, or 3.07%, at 23,150, indicating a positive start for Indian equities when trade resumes on Tuesday.

Earlier, the 30-share benchmark BSE Sensex plunged 1,837 points to end at 72,696, while the broader 50-share NSE Nifty50 dropped 602 points to close at 22,513. The sell-off wiped out nearly ₹15 lakh crore in investor wealth in a single session, taking total erosion since the onset of the conflict to about ₹50 lakh crore.

In his statement, Trump said discussions were aimed at a “complete and total resolution” of hostilities. He added that, given current progress, he has directed a temporary halt to any strikes on Iranian energy assets for five days. However, the pause remains contingent on further diplomatic traction.

Crucially, Trump has also urged Iran to reopen the Strait of Hormuz within 48 hours, underlining its centrality to global oil and trade flows.

In parallel, UK Prime Minister Keir Starmer held a 20-minute call with Trump, with both leaders aligning on the urgency of restoring shipping access through the Strait.Continue Reading(Edited by : Ajay Vaishnav)TagsDonald TrumpGift niftyUS Iran war