- Indian markets surged, driven by US-Iran peace deal hopes.
- President Trump canceled Iran strikes, signaling a settlement this weekend.
- Global markets, including Asia and Wall Street, rallied strongly.
Indian benchmark indices opened in positive territory on Friday, buoyed by a sharp rally across global markets after US President Donald Trump called off planned military strikes on Iran and signalled that a formal peace deal could be signed as early as this weekend.
The BSE Sensex opened around 74,720, up 900 points, while the NSE Nifty50 climbed 250 points to hover around 23,400 at 9:15 AM. The broad-based gains at the open reflected strong overnight momentum from Wall Street and widespread advances across Asian markets.
GIFT Nifty Signals A Strong Start
Ahead of the opening bell, GIFT Nifty futures were pointing firmly higher, signalling a positive open for domestic markets. The contract was quoted at 23,455 on Friday morning, up 258 points, tracking upbeat global cues tied to hopes of a breakthrough in the Iran-US standoff.
Pre-Open Session
Indian markets carried that momentum into the pre-open session. Between 9:00 AM and 9:14 AM, the Sensex was trading at 73,353.28, a gain of 1,520.73 points or 2.06 per cent. The Nifty50 rose 159.85 points, or 0.69 per cent, to 23,321.45 during the same window.
Asian Markets Advance
Stock markets across the Asia-Pacific region opened sharply higher on Friday, with investors responding to hopes of a ceasefire in West Asia and a consequent easing of inflationary pressures.
South Korea’s Kospi led regional gains with a jump of 8.5 per cent. Japan’s Nikkei 225 rose 2.8 per cent, while Hong Kong’s Hang Seng added 1.16 per cent. The regional rally came alongside a fall in the US dollar, lower bond yields, and crude oil prices sliding to their lowest level in two months.
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Wall Street: Best Day Since April
US stock markets logged their biggest single-day percentage gains since April 8 on Thursday, driven by the Iran de-escalation and a rebound in chip stocks.
The Dow Jones Industrial Average closed 1.86 per cent higher, while the S&P 500 ended up 1.75 per cent. The tech-heavy Nasdaq Composite outperformed, finishing 2.54 per cent in the green. The session was also notable for the market debut of Elon Musk’s SpaceX, which added to the positive mood on Wall Street.
Geopolitical Developments: Trump Signals Iran Deal This Weekend
The dominant cue driving markets on Friday was a dramatic shift in US-Iran relations over the course of Thursday.
President Trump, who had revived a threat to capture Kharg Island, a critical hub of Iranian energy infrastructure, within hours reversed course and announced that planned military strikes on Iran had been called off. Speaking to reporters at the White House, Trump said Washington had reached what he described as a “great settlement” with Iran, with only the formal signing of the document remaining.
He said the deal could be finalised as early as this weekend and that the Strait of Hormuz, a critical global shipping lane, would reopen once an agreement is in place.
Commodities Watch
Oil prices extended their decline on Friday following Trump’s announcement. The Brent crude June futures contract on the Intercontinental Exchange was quoted at $89.39 per barrel, down 1.10 per cent. Separately, Brent futures were seen at $89.17 a barrel, lower by $1.21 or 1.3 per cent. US West Texas Intermediate crude fell $1.23, or 1.4 per cent, to $86.48 per barrel. For the week, Brent was down 4.2 per cent, and WTI fell 4.4 per cent.
Precious metals moved sharply in the opposite direction. Gold futures were trading 2.32 per cent higher, while silver futures surged 4.7 per cent.
Markets will track further developments on the US-Iran peace deal and any official confirmation of the Strait of Hormuz reopening, both of which have direct implications for global oil supply and inflation. The trajectory of crude oil prices, the direction of the US dollar, and bond yields will remain in focus through the session.
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