The Nifty was effectively flat on Wednesday. Sensex weekly and monthly derivatives expiry added to the cautious undertone. Analysts say a gradual recovery in domestic markets could be sustained if crude oil prices remain soft and global energy supply concerns continue to recede. However, sentiment is likely to remain guarded — mixed signals from the US-Iran negotiating process, compounded by fresh US military strikes in southern Iran, have revived geopolitical risk premiums that markets had begun to price out. The path forward is narrower than last week's rally implied.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded lower by 1.5 points, or 0.01 per cent, at 23,872, signaling that Dalal Street was headed for a muted start on Friday.Tech View: Overall, technical and derivative data suggest a sideways to mildly positive trend for the upcoming sessions. On the levels front, 23800 is likely to act as immediate support, while 24000-24100 remains a strong resistance zone. Positional support for the index is placed at 23650 levels."India VIX: India VIX, which is a measure of the fear in the markets, fell 7.1% to settle at 14.98 levels.US stocks end higherThe S&P 500 and the Nasdaq posted record closing highs on Thursday after news reports said the U.S. and Iran had reached a draft agreement to extend their ceasefire for 60 days, while investors also digested key inflation data.Asian shares gainAsian equities advanced and oil dropped after the US and Iran reached a tentative deal to extend their ceasefire.S&P 500 futures were little changed as of 9:01 a.m. Tokyo timeHang Seng futures rose 0.6%Japan’s Topix rose 0.5%Australia’s S&P/ASX 200 rose 0.8%Euro Stoxx 50 futures fell 0.4%Oil falls Oil futures fell slightly on hopes for a potential deal to extend a U.S.-Iran ceasefire, although remarks from Vice President JD Vance that the nations were "close" to reaching a deal but "not there yet" kept a floor under prices.Dollar dipsThe dollar extended its weakness against major currencies on Friday and was on track to end the week lower, after reports the U.S. and Iran reached an agreement to extend the ceasefire in the Middle ‌East and ⁠lift restrictions on ⁠shipping through the Strait of Hormuz.Gold risesGold prices inched higher on Friday as investors assessed reports of a U.S.-Iran ceasefire deal amid growing concerns around inflation and U.S. interest rate hikes.Stocks in F&O ban todayNILSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.RupeeThe rupee settled higher by 12 paise at 95.58 against the US dollar on Wednesday, as renewed tensions between the US and Iran and delays in negotiations kept investors cautious.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)