New Delhi, April 16 -- The Indian stock market traded higher on Thursday, on signs of easing geopolitical tensions in the Middle East and growing optimism around potential US-Iran peace talks. Benchmark indices advanced nearly 0.5%, with the Nifty 50 reclaiming the 24,200 level.

Global markets, which had come under pressure following the escalation of the US-Iran war - disrupting crude oil supplies and driving a sharp rise in oil prices - have staged a strong recovery amid renewed diplomatic efforts.

On Wall Street, the S&P 500 has fully recouped its losses linked to the conflict and has gained 3% this week, hovering near record highs. The Nasdaq has risen approximately 5%, marking its longest winning streak since 2019, while the Dow Jo...