Indian Stocks Rebound

The SENSEX Index went up by 326 points or 0.44 percent on Friday to close at 74533 points. The rise was led by Tech Mahindra (3.41%), Infosys (3.13%) and Tata Steel (2.88%). On the downside, the weakerst performers were HDFC Bank (-2.17%), Kotak Mahindra Bank (-0.31%) and Bajaj Finance (-0.26%).

India’s BSE Sensex climbed more than 1% to above 75,000 on Friday, rebounding from the prior session’s steepest drop in nearly two years, and headed for a modest 0.6% weekly gain as easing oil prices offered relief to risk sentiment. Brent crude eased to around $107 per barrel after surging to $119 on Thursday amid attacks targeting Middle East energy infrastructure. The pullback followed moves by European nations and Japan to help secure shipping through the Strait of Hormuz, alongside US efforts to boost supply. President Trump also urged Benjamin Netanyahu to avoid further strikes on Iranian energy facilities. IT stocks led the advance, such as Tata Consultancy (0.8%), Infosys (1.7%), HCL Tech (2%), Tech Mahindra (3.1%), and Wipro (0.9%). Energy firms also outperformed, with Bharat Petroleum up 2.7%. Conversely, heavyweight HDFC Bank extended losses following the sudden resignation of part-time chairman Atanu Chakraborty.

India's BSE Sensex plummeted about 3.3% on Thursday to close at 74,207, in its worst session since mid-2024, after three straight sessions of advances. The sharp selloff followed a severe escalation in the Middle East conflict, which caused a sharp jump in oil prices amid concerns over a prolonged energy crisis. Iran intensified its attacks on Gulf Arab energy infrastructure, striking a Saudi refinery on the Red Sea and setting Qatari LNG facilities and two Kuwaiti oil refineries ablaze in retaliation for an Israeli attack on its main natural gas field. Adding to the pressure, the US Federal Reserve kept interest rates unchanged, as expected, signaling they may remain at current levels for an extended period and prompting continued equity outflows. All sectors recorded losses, led by financials and banks. Autos, techs and travel and tourism stocks also saw heavy pressure. On equities, HDFC Bank dropped 5.1% after its chairman, Atanu Chakraborty, resigned, citing ethical concerns.