New Delhi, May 7 -- The prospects of a potential peace deal between the US and Iran have boosted stock market sentiment. Benchmark Nifty 50 reclaimed the 24,400 mark in intraday trade on Thursday, 7 May. The index looks set to extend gains for the second consecutive week. From the April 2 low of 22,182.55, the benchmark index has jumped 10%.

The current setup of the Indian stock market appears mildly positive, supported by positive global cues and a decline in crude oil prices, even as the persisting uncertainty about a final US-Iran peace deal keeps volatility elevated.

The headline-sensitive market is closely monitoring the news flows about the potential peace deal that can end the West Asian conflict.

According to reports, the US ha...