Indian stock markets recovered on Friday after a sharp fall in the previous session, supported by softer crude oil prices and hopes of a phased agreement between the United States and Iran.
The BSE Sensex gained 315 points, or 0.43%, to close at 73,895, while the Nifty 50 rose 77 points, or 0.34%, to 23,140. The Nifty Bank index advanced 389 points, or 0.26%, ending at 55,762.
The recovery remained moderate as investors closely watched developments between Washington and Tehran.
Reports suggesting a possible phased agreement raised hopes of improved oil supplies from the Middle East and reduced concerns about energy availability.
Brent crude slipped to around $105.60 per barrel after rising more than 7% over the previous two sessions.
US West Texas Intermediate crude traded below $94 per barrel.
Lower oil prices are important for India because the country relies heavily on imported crude.
Cheaper oil can ease fuel-cost pressures and reduce the import bill, although the impact depends on the rupee-dollar exchange rate and other market conditions.
Despite Friday’s gains, investors remained cautious. US Treasury yields stayed above 5%, foreign investors continued selling Indian equities, and global economic risks remained.
The broader market delivered mixed results. The Nifty Midcap 100 fell 0.23%, while the NSE Smallcap 100 gained 0.17%, indicating selective buying.
Among sectors, auto, consumer durables and realty gained around 0.76%, 0.87% and 0.70%, respectively. IT, media, pharma and healthcare stocks declined.
The rupee remained volatile, moving between 95.57 and 95.97 against the US dollar before ending near 95.85.
Analysts said the recovery was driven mainly by buying in selected stocks rather than a broad-based rally.
Investors will now track crude prices, US interest rates, foreign flows and Middle East developments.
Overall, markets ended positively but remained cautious amid global uncertainty.
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