equity markets recorded notable gains on Friday, driven by easing crude oil prices and optimism over a phased agreement between the US and Iran.
The Sensex closed 315 points higher at 73,895, marking a 0.43 percent increase, while the Nifty rose 77 points or 0.34 percent to end at 23,140.
Banking stocks rallied as the Nifty Bank index gained 389 points, or 0.26 percent, settling at 55,762.
This recovery followed a sharp decline on Thursday, with encouraging reports on US-Iran negotiations boosting investor confidence.
Brent crude prices fell to around $105.6 per barrel after surging over 7 percent during the previous two sessions, and West Texas Intermediate crude traded below $94 amid expectations of Middle Eastern oil flow restoration linked to talks taking place alongside the United Nations General Assembly.
However, market pressures remain as US Treasury yields stayed above 5 percent, foreign investors continued selling, and global macroeconomic risks persisted.
broader market indices showed mixed performance as the Nifty Midcap 100 declined 0.23 percent, whereas the NSE Smallcap 100 rose 0.17 percent and the Nifty Next 50 increased 0.39 percent.
Most sector indices on the NSE advanced except for IT, media, pharma, and healthcare; auto, consumer durables, and realty sectors led gains with rises of 0.76, 0.87, and 0.70 percent respectively.
The Indian rupee was volatile throughout the week, fluctuating between 95.57 and 95.97 against the US dollar and closing near 95.85, constrained by commodity price volatility and a stronger dollar.
Market analysts noted the rebound was primarily due to selective value buying rather than a broad-based increase in risk appetite, with a clear divergence between large-cap stocks and weaker mid- and small-cap segments.
Investors remain cautious, with the market's sustainability dependent on crude price stabilization, cooling global yields, and reduced foreign selling pressure.
