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Nifty, Sensex Erase Weekly Losses With Just Friday's Rally On Hopes Of US-Iran Peal Deal

Benchmark indices ended sharply higher, reversing earlier losses for the week on the back of strong Friday gains. The NSE Nifty 50 rose 1.99% to close at 23,622.90, up 461.30 points. The BSE Sensex climbed 2.30% to 75,527.95, gaining 1,695.40 points. Both indices turned positive for the week, with Nifty and Sensex ending higher after earlier declines between Monday and Thursday.

The rebound came after optimism around a potential US-Iran deal lifted sentiment across global markets and eased risk concerns.

Meanwhile, crude prices declined in early Asia trading on Friday after US President Donald Trump said Washington and Tehran had reached a framework agreement, raising hopes of easing tensions in the Middle East. WTI crude futures for July delivery dropped 1.65% to $86.26 per barrel. Brent crude fell 4.6% to $86.3 per barrel.

The slump in crude oil prices came after a draft memorandum between the US and Iran includes provisions to ease tensions and restore energy flows, according to Iranian state media. The draft outlines lifting US oil sanctions and reopening the Strait of Hormuz within 30 days. It also links final negotiations to steps such as releasing part of Iran's frozen funds and easing trade restrictions. The development follows US President Donald Trump's statement that a settlement with Iran is close, subject to finalisation.

Elsewhere, European markets traded in the green, with broad-based gains across key indices. Germany's DAX rose 1.86%, while France's CAC gained 2.09%. Spain's IBEX 35 was up 2.53% and Italy's FTSE MIB advanced 1.93%. UK's FTSE added 1.34%, while STOXX 600 climbed 1.72%. Other indices including OMX 30 and BEL 20 also posted gains, indicating positive sentiment across the region.



from NDTV News- Special https://ift.tt/0ZQMeNn
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