Indian equity benchmarks Sensex and Nifty opened higher in early trade on Friday, buoyed by Israeli Prime Minister Benjamin Netanyahu’s assurance that Israel would not target Iranian energy facilities in the future, following US President Donald Trump’s intervention.
The Sensex surged 900 points or 1.1 per cent, to 75,093, while the Nifty rallied 254 points or 1.1 per cent, to 23,254.
This rebound followed a significant drop in crude oil prices, which eased after touching $119 per barrel on Thursday amid de-escalation signals.
Both indices had witnessed a sharp free fall on Thursday due to surging fuel prices after Iran targeted Qatar’s largest gas facilities and broader Middle East energy infrastructure.
Brent crude rose to $119.13 a barrel on Thursday on the attacks, triggering a global market rout that wiped out $139.5 billion in market value from NSE-listed stocks in a single session.
US President Donald Trump said he had asked Israeli Prime Minister Benjamin Netanyahu to halt all attacks on Iranian energy facilities following Tehran’s massive retaliation throughout Wednesday night and Thursday morning.
The NSE’s Nifty 50 and BSE Sensex lost more than three per cent on Thursday, marking the worst trading session since June 2024.
This rout was led by HDFC Bank after its part-time chairman announced a sudden resignation.
Other Asian markets also declined by up to three per cent on Thursday due to Iran-Israel tensions.
On Wednesday, the World Trade Organisation (WTO) forecasted a decline in global trade growth to 1.9 per cent in 2026 due to the West Asia crisis.
WTO economists warned that the ongoing conflict could further reduce trade growth if energy prices remain elevated.
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