The recent 14-day ceasefire between the US and Iran resulted in a significant boost for Indian stock markets, with both benchmark indices climbing nearly 4%. This surge mirrored gains across global markets, driven by relief following heightened tensions between the two nations. US President Donald Trump's previous threats had unsettled investors, but the ceasefire news brought a sense of calm. Additionally, crude oil prices plummeted 14%, dropping below $95 per barrel, while the Indian rupee appreciated against the dollar. Despite these positive developments, analysts caution against premature optimism regarding a lasting peace deal. Truce talks are set to commence, but both sides maintain firm positions that could hinder progress. Iran's desire to keep its uranium enrichment facilities and its control over the Hormuz shipping passage may pose significant obstacles. As such, the direction of stock prices will heavily depend on the outcomes of these negotiations.