June 12 (Reuters) - Indian shares opened higher on Friday tracking gains in other Asian markets, as oil prices fell after U.S. President Donald Trump cancelled plans to strike Iran, citing progress in talks.

The benchmark Nifty 50 rose 1.08% to 23,412.55, while the BSE Sensex added 1.19% to 74,709.27, as of 9:15 a.m. IST.

All 16 major sectors logged gains at the open. The broader small-caps and mid-caps rose 1.4% and 1.3%, respectively.

Other Asian stock markets jumped 4%. Brent crude futures slipped to a near two-month low of $89 a barrel, tempering inflation fears.

Trump said on Thursday the United States and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz to shipping. However, Iran said it had not reached a final decision on an agreement.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Subhranshu Sahu)