Nifty slumped on the SOH & Iran deadlock but recovered
· Iran confirmed ‘progress’ of talks with the US through mediator Pakistan; the US proposed a temporary waiver on Iran's oil sanctions. · Earlier, Trump warned “Clock Is Ticking” on Iran as a part of his deal-making effort · Techs helped amid bargain hunting as USD/INR surged to another lifetime high. India’s benchmark stock index Nifty wobbled on Monday, May 18, 2026, on the lingering SOH (Strait of Hormuz) deadlock and Trump’s threats to Iran—either accept the deal (surrender) or face destruction. The May 14, 2026, Trump-Xi summit in Beijing apparently failed to deliver any important diplomatic alignment for reopening the SOH and preventing Iran from acquiring nuclear weapons. And just days later, after a brief pause during his China tour, Trump again reverted to his Iran warmongering mood as he seeks a favorable deal with Iran at gunpoint so that it can help him politically ahead of the Nov. '26 US midterm election. The market...