Relative calm returned to global markets, with stocks climbing and oil sinking alongside gold as fears subsided that Israel’s war against Iran would escalate into a wider conflict. News reports that Tehran wants to restart talks over nuclear programs also fueled risk-on sentiment.

As Israel and Iran exchanged more attacks, stock markets mostly rose even as worries remained about possible oil supply interruptions.

The ongoing Israel Iran war has unleashed not only a massive aerial assault with missiles and drones causing heavy destruction in both the countries but could potentially impact global economy including India with whom the two have trade relations.