Indian stock indices witnessed a strong rebound on Friday, with the Sensex closing at 75,527.95 points and the Nifty regaining the 23,600 mark, as easing concerns over the Iranian conflict and a sharp decline in crude oil prices led to a broad-based rally in global markets.
The Sensex jumped 1,695.40 points to settle at 75,527.95, while the Nifty rose 461.30 points to 23,622.90.
This rise came after US President Donald Trump announced a diplomatic breakthrough in talks aimed at ending the Iranian war, prompting investors to reduce geopolitical risk premiums. Global stocks rose and oil prices fell sharply on expectations that disruption to energy supplies through the Strait of Hormuz may ease. Track updates on the Iran-US conflict
Brent crude, the international benchmark, fell more than 4 percent to about $86 a barrel, while US crude also fell more than 4 percent. The decline in oil prices is generally considered a positive thing for India, which imports the bulk of its crude oil needs.
Indian markets opened strongly and extended their gains during the session. The Sensex started the day at 74,742.65, up 910.10 points, while the Nifty opened at 23,432.70, up 271.10 points.
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The local rally reflects a global mood for risk appetite. Asian markets recorded sharp gains, with South Korea’s Kospi index rising 4.6 percent, Japan’s Nikkei 225 index advancing 2.8 percent, and Hong Kong’s Hang Seng Index advancing 1.7 percent. European markets also traded solidly higher, while Wall Street rose overnight, led by technology stocks.
