Mumbai, June 16 -- A potential agreement between Iran and the United States to end the ongoing West Asian conflict could lead to a normalization of global energy markets, ease macroeconomic pressures on India and support a broader recovery in corporate earnings, according to a report by Kotak Institutional Equities.

The brokerage said that markets are closely awaiting the final agreement between Iran and the US, which could pave the way for the restoration of normal shipping through the Strait of Hormuz and allow Iran to resume unrestricted oil exports.

"We await the 'final' agreement between Iran and the US that could end the ongoing West Asian war. A resolution could lead to further moderation in oil and gas prices and ease pressure o...