Nifty Posts 150-Point Gain, Marks Firm Start to Global Markets Amid Ongoing Iran Talks and Volatile Oil Prices

Indian Equity Market Expected to Open Higher on Friday

The Indian equity market is likely to open on a positive note on Friday, tracking gains across Asian markets and Wall Street. Investors are drawing optimism from signs of progress in U.S.-Iran peace negotiations and easing concerns over energy supplies. The GIFT Nifty was trading at 23,666 in early morning trade, up 150 points or 0.64 percent, indicating a positive start for Indian equity benchmark indices.

Thursday's Market Performance

The previous session on Thursday was largely range-bound, with the Sensex slipping 135.03 points or 0.18 percent to close at 75,183.36, while the Nifty edged down just 4.30 points to 23,654.70. Despite the muted benchmark performance, broader market sentiment remained constructive, with 2,307 shares advancing against 1,688 declines. Realty stocks led gains, while IT and FMCG shares lagged. Smallcaps outperformed, while India VIX declined more than 3 percent, signaling easing volatility.

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Global Market Sentiment

Global sentiment improved overnight as investors continued to bet on a potential diplomatic breakthrough between Washington and Tehran. Wall Street ended higher, with the Dow Jones Industrial Average rising 276.31 points or 0.55 percent to 50,285.66. The S&P 500 gained 0.17 percent to 7,445.72, while the Nasdaq Composite advanced 0.09 percent to 26,293.10.

Oil Prices

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Oil prices remained volatile as investors assessed conflicting signals from the ongoing U.S.-Iran negotiations. Brent crude rose 2 percent in early trade to $104.71 per barrel, while U.S. WTI crude gained 1.66 percent to $98.01. However, both benchmarks remain on track to end the week around 6 percent lower after falling sharply on Thursday amid hopes of progress in negotiations.

Market Developments

Market participants continue to monitor developments around the Strait of Hormuz, a key global energy transit route. U.S. Secretary of State Marco Rubio said there had been “some good signs” in talks with Iran, although disagreements remain over Tehran’s uranium stockpile and control of the waterway.

Institutional Flows

Institutional flows remained mixed. Foreign institutional investors (FIIs) sold equities worth Rs 1,891 crore on Thursday, while domestic institutional investors (DIIs) purchased shares worth Rs 2,492 crore, continuing to provide support to the market. For 2026 so far, FIIs have sold Indian equities worth about Rs 2.65 lakh crore, while DIIs have bought shares worth Rs 3.40 lakh crore.

Technical Analysis

From a technical perspective, analysts said the market remains trapped in a broad consolidation range. Nifty is expected to remain range-bound between 23,300 and 23,850 until a decisive breakout provides directional clarity. While the index may attempt a rebound towards the 23,750-23,850 zone, a sustained close above 23,800 will be required for a move towards 24,000. On the downside, immediate support is placed in the 23,400-23,300 zone.

For Bank Nifty, analysts said a decisive move above 54,400 would be needed to trigger a stronger uptrend, while support remains placed near the 52,800-52,700 region.