MUMBAI: Indian shares hit a two-week high on Monday as signs of progress in US-Iran peace talks eased oil prices and increased investor appetite for risk assets.US President Donald Trump said on Saturday that Washington and Iran have “extensively negotiated” a memorandum of understanding on a peace deal that would reopen the Strait of Hormuz, through which a fifth of global oil and LNG shipments came before the war.The comments pushed Brent crude futures down 5.5% to $97.8 a barrel – its lowest in two weeks.Nifty closed 312 points (1.3%) higher at 24,032 and Sensex closed 1,074 points (1.4%) higher at 76,489. This was their highest close since May 8.However, gains remained limited as US and Iranian officials played down expectations of an imminent breakthrough, analysts said. There was a rise in 15 out of 16 major sectors. The small-cap and mid-cap indices rose 1.4% and 0.9%, respectively.The heavyweight financial sector grew 2.2%, led by private sector lenders growth of 2.6% and 2.3%. hdfc bank And ICICI Bank.Foreign portfolio investors have sold domestic shares worth $23.9 billion so far this year, surpassing last year’s record annual outflow.Huge advantage for OMCsOil marketing companies BPCL, HPCL, Indian Oil – which together control 90% of India’s fuel market – gained 4.3%, 3.5% and 3.2% respectively after a sharp recovery in crude oil prices and another hike in fuel prices on Monday.Petrol prices were raised by Rs 2.6 per liter and diesel by Rs 2.7 per litre, the fourth increase in less than two weeks. The latest price hike took the cumulative increase since May 15 to around Rs 7.5 per litre.