Indian equities are staging a powerful comeback on Friday, propelled by easing oil prices and hints of calm in West Asia. At 12 PM, Sensex was up 728 points (1%) at 74,935, and Nifty advanced 236 points (1.03%) to 23,238.
Midcaps and smallcaps aren’t lagging behind. Nifty Midcap 100 jumped 1.27% or 693 points to 55,185, while Smallcap 100 rose 0.65% or 111 points to 15,816. The rally is broad-based and vigorous.
Crude oil’s retreat is the headline catalyst. Brent slipped to $107.3/barrel (-1.21%), pulling back from $119 highs after tensions over energy targets in the ongoing Iran-America-Israel standoff.
De-escalation vibes from the Middle East are boosting risk appetite. This shift has triggered fresh buying, reversing the fear-driven selloff.
Overseas, Asian bourses like Seoul and Shanghai started strong. US markets clawed back intraday but ended lower. Locally, India VIX’s decline points to fading volatility fears, paving the way for gains.
Value buying at depressed levels is another key driver. Experts like ex-SEBI’s Kamlesh Chandra Varshney are calling it prime time for foreign portfolio investors (FPIs). At an NSE-hosted event, he emphasized how the month’s 8% benchmark plunge has created ‘excellent investment opportunities’ with better entry valuations.
Varshney’s optimism underscores a market ripe for recovery. As global uncertainties fade, Indian stocks could attract significant capital, setting the stage for sustained upward trajectory.