Sensex surges over 770 points, Nifty reclaims 23,350 as global rally and easing oil prices lift markets

Benchmark equity indices Sensex and Nifty rebounded sharply on Friday, supported by a rally in global markets and a decline in crude oil prices after US President Donald Trump said the United States had ended the war with Iran.

At 12:20 pm, the 30-share BSE Sensex was trading 774.34 points, or 1.05%, higher at 74,606.88. The NSE Nifty50 gained 195.90 points, or 0.85%, to reach 23,357.50.

The rally was broad-based, with all 16 major sectoral indices trading in positive territory. The broader market also outperformed, with the Nifty Smallcap 100 rising 1.6% and the Nifty Midcap 100 advancing 1.4%.

Among Sensex constituents, InterGlobe Aviation, Larsen & Toubro, Bajaj Finance, Eternal, Trent, and HDFC Bank emerged as the top gainers. Tech Mahindra, PowerGrid, and HCL Tech were among the laggards.

Crude price falls

Investor sentiment improved as Brent crude, the global oil benchmark, declined 1.62% to $88.92 per barrel, easing concerns over inflation and input costs.

Asian markets mirrored the upbeat mood. South Korea’s Kospi surged more than 8% while Japan’s Nikkei 225 advanced over 3%. China’s SSE Composite and Hong Kong’s Hang Seng index also traded higher.

Wall Street had closed significantly higher in the previous session, providing additional support to global risk sentiment.

Foreign Institutional Investors (FIIs), however, remained net sellers and offloaded equities worth ₹1,987.09 crore on Thursday, according to exchange data.

In the previous trading session, the BSE Sensex had fallen 150.63 points, or 0.20%, to close at 73,832.55 while the Nifty declined 53.35 points, or 0.23%, to settle at 23,161.60.

Rupee surges 65 piase

Meanwhile, the rupee strengthened sharply against the US dollar, rising 65 paise to 95.20 in early trade after retreating crude prices and improving global sentiment boosted demand for the local currency.

Forex traders said a weaker US dollar and positive momentum in domestic equities supported the rupee’s recovery. The currency opened at 95.40 in the interbank market before strengthening further to 95.20 against the greenback.

The rupee had plunged 60 paise to settle at 95.85 against the US dollar on Thursday.