Indian equity benchmarks staged a powerful rebound on Friday, with the Sensex closing at 75,527.95 points and the Nifty reclaiming the 23,600 mark, as easing concerns over the Iran conflict and a sharp fall in crude oil prices triggered a broad-based rally across global markets.
Sensex jumped 1,695.40 points to settle at 75,527.95, while Nifty soared 461.30 points to 23,622.90.
The rally came after US President Donald Trump claimed a diplomatic breakthrough in talks aimed at ending the Iran war, prompting investors to unwind geopolitical risk premiums.
Global equities surged and oil prices fell sharply amid expectations that disruptions to energy supplies through the Strait of Hormuz could ease.
Brent crude, the international benchmark, dropped more than 4 per cent to around $86 a barrel, while US crude also declined over 4 per cent.
Lower oil prices are generally seen as positive for India, which imports the bulk of its crude requirements.
Indian markets had opened strongly, extending gains through the session.
The Sensex had begun the day at 74,742.65, up 910.10 points, while the Nifty opened at 23,432.70, higher by 271.10 points.
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The domestic rally mirrored a global risk-on mood.
Asian markets posted sharp gains, with South Korea's Kospi rising 4.6 per cent, Japan's Nikkei 225 advancing 2.8 per cent and Hong Kong's Hang Seng gaining 1.7 per cent.
European markets also traded firmly higher, while Wall Street had rallied overnight, led by technology stocks.
