Indian market rebounds after plunge on Donald Trump's Iran warning
The Indian stock market had a wild ride on Thursday: Nifty 50 dropped over 2% in the morning but came roaring back, closing slightly up at 22,713.
Sensex also finished higher at 73,319.
This rollercoaster was set off by US President Donald Trump's warning about action against Iran, which pushed oil prices up nearly 6% to $107 a barrel and got everyone talking about global supply worries.
IT stocks up 2.6% rupee strengthens
While most sectors struggled, IT stocks stood out with a solid 2.6% gain. Other areas like auto and PSU banks slipped around 1%.
The rupee had its own comeback moment. Thanks to RBI's new rules for banks, it strengthened to ₹93.15 against the dollar as traders rushed to sell dollars.
Analysts say geopolitics will steer markets
Analysts are still playing it safe for now.
They say global news (especially around geopolitics and big economic updates) will keep steering the market's mood in the days ahead.