India, April 15 -- India's stock market registered a sharp recovery today, after US President Donald Trump said the Iran war "is close to over".

The 30-share S&P BSE Sensex rose 1.48%, or 1,133.53 points, to 77,981.10 even as the wider NSE Nifty 50 regained 24,000 levels.

The primary catalyst for the optimism is a sharp decline in energy costs. Brent crude fell 1.2% to $94.27 a barrel, while WTI dropped toward $90. Softening crude oil prices come amid reports that diplomatic channels between the US and Iran may be reopening, potentially averting a broader conflict that threatened to disrupt supply routes in the Strait of Hormuz.

US President Donald Trump told Fox News that the war is "close to over", hinting at a second round of face-t...