Indian Equity Markets Rebound on Easing Crude Oil Prices and US-Iran Pact Hopes

The Indian equity markets rebounded on Friday after a sharp decline the previous day, thanks to easing crude oil prices and hopes of a US-Iran agreement. The Sensex gained 315 points, or 0.43 percent, to close at 73,895, while the Nifty rose 77 points, or 0.34 percent, to settle at 23,140. The Nifty Bank index added 389 points, or 0.26 percent, to close at 55,762.

The rebound was driven by selective value buying rather than a broad improvement in investor risk appetite, according to analysts. They also pointed out that the performance of large-cap stocks differed from mid- and small-cap shares, indicating investors remained selective.

Crude oil prices eased, with Brent crude slipping toward $105.60 a barrel during the session. West Texas Intermediate crude traded below $94 a barrel amid expectations that Middle East oil flows could improve as discussions reportedly took place on the sidelines of the United Nations General Assembly.