Nifty, Sensex end higher taking strong cues from Asian peers despite oil prices remain volatile

NEW DELHI: Benchmark Indices on Friday ended higher taking positive cues from its Asian peers which rose despite caution in the market due to a fragile ceasefire agreement between the US and Iran and volatile oil prices. The benchmark Nifty 50 index settled at 24,050.60 point, up 1.2 per cent on Friday and the BSE Sensex index closed 1.2 per cent higher at 77,551.48 points.

Domestic stock markets were also pushed by gains in the financial services and bank stocks which were partially offset by some Information Technology stocks. On the sectoral front, most indices ended in green except Nifty IT index that ended nearly 2per cent lower at 31,030.60 points. Nifty Auto emerged as the top gainer, rising 2.9 per cent during Friday’s session and closed at 26,640.90 points. The Nifty Financial Services closed over 2 per cent higher at 28,584.35 points.

“Markets appear cautiously optimistic ahead of the U.S.-Iran talks, as reflected in broad-based gains globally and a meaningful reduction in volatility, with India’s VIX falling over 6.5 per cent. The ceasefire, however, remains under pressure, with conflicting peace frameworks, Washington accusing Tehran of breaching commitments on the Strait of Hormuz, and Israel’s strikes on Lebanon adding a further layer of complexity to an already delicate situation. With formal talks yet to begin on Saturday, next week’s market direction will remain firmly dependent on how negotiations unfold between the US, Israel, and Iran in the near term”, said Ponmudi R, Chief Executive Officer of Enrich Money, a SEBI – registered online trading and wealth tech firm.

Ponmudi added the rupee witnessed mild depreciation, trading in the 92.7 zone as it continued to stabilize from the recent volatile swings. FII outflows remained a persistent overhang on sentiment, though steady DII inflows continued to provide a meaningful offset, cushioning domestic liquidity conditions and limiting the broader impact on market stability.

Global markets are on a rise as they witnessed sharp corrections in the recent times due to the West Asia conflict, which seems to have cooled down temporarily after the ceasefire announcement. However, tensions in the middle east are still ripe as Israel launched deadly strikes on Lebanon yesterday, post which, Iran has shut the Strait of Hormuz, again, after a brief resumption.

Among the Asian equity markets, Japan’s Nikkei 225 index ended nearly 2 per cent lower at 56,952 points. South Korea’s Kospi rose 1.4per cent to settle at 5,858.87 points. Singapore’s benchmark Singapore Straits Times closed marginally higher at 4,989.41 points. Mainland China’s CSI 300 index ended 1.5per cent higher at 4,636.57.

The Brent crude oil shrugged off uncertainty due to the tension in the West Asia and traded nearly 1per cent higher at USD 96.80. As of 0345 IST, gold was trading at Rs 1,52,188 per 10 grams for 24 karat, 0.8per cent lower than the previous close. Silver was trading at Rs 2,40,601 per kg, 1.3per cent lower than the previous close.

“Moderation in Gold ETF flows points to a renewed optimism around equities. The broader takeaway from March 2026 is that industry AUM has declined, not investor confidence. Optimism around equities is back with a more diversified and deliberate approach to investing. Categories that saw sharp drawdowns have attracted renewed investor confidence,” Nitin Agrawal, CEO, Mutual Funds, InCred Money said in a note. (ANI)