Indian Stocks Rebound on Easing Oil Prices

Indian benchmark stock indices rebounded modestly on Friday, March 20, 2026, closing higher after a sharp selloff the previous day amid easing global crude oil prices and signs of potential deescalation in Middle East tensions. The BSE Sensex rose 325.72 points, or 0.44 percent, to settle at 74,532.96, while the NSE Nifty climbed 112.35 points, or 0.49 percent, to end at 23,114.50. The recovery followed a volatile session in Mumbai, where both indices hit intraday highs before paring most gains.

The uptick came after Thursday's plunge, the steepest single-day drop since June 2024, triggered by surging oil prices due to escalating conflict between Israel and Iran. That day, the Sensex tumbled 2,496.89 points, or 3.26 percent, to 74,207.24, and the Nifty fell 775.65 points, or 3.26 percent, to 23,002.15. The selloff erased about Rs 12.87 lakh crore in market value, with investors losing over Rs 37 lakh crore since late February amid the regional crisis. Key drags included a sharp decline in HDFC Bank shares following the sudden resignation of its chairman, Atanu Chakraborty, alongside broader concerns over energy supply disruptions from attacks on oil and liquefied natural gas...