Sensex rises 800 points to 78,895:Nifty climbs 200 points; oil prices plunge as Trump halts Iran strike plans

There is a surge in the stock market on August 03. The Sensex has climbed 800 points and is trading at 78,895. Nifty has also gained 200 points and is trading at the level of 24,576. US-Iran talks to resume today US President Donald Trump has announced that indirect talks between Washington and Tehran will begin on Monday, saying the negotiations will be held through mediators. Speaking to reporters aboard Air Force One, Trump said he wanted diplomacy to prevail, adding that a successful agreement could save many lives. Trump also claimed the US had put a planned military strike on Iran on hold following diplomatic engagements involving Saudi Arabia, Qatar, the United Arab Emirates (UAE) and Iran. Oil cools Following geopolitical developments, oil prices plunged 5% to $83 per barrel. Decline in Asian Markets US Market Showed Gains on July 31 Foreign investors bought shares worth ₹5,673 crore in 7 days Note: Net buying/selling figures of FIIs and DIIs are in crores of rupees. Market was bullish on Friday The stock market was bullish on Friday, July 31. Sensex closed at 78,094, up 166 points. Nifty also gained 66 points, reaching 24,383.