Indian equity benchmarks closed marginally higher on Thursday, securing a third consecutive week of gains as falling crude oil prices bolstered investor sentiment.
The NSE Nifty 50 rose 0.1%, or 34.35 points, while the BSE Sensex also edged up, reflecting broad-based relief from energy cost pressures that have weighed on corporate margins and inflation expectations in recent months.
2% to $78.03 a barrel earlier in the week after the United States lifted sanctions on Iran.
The retreat in oil prices is a direct consequence of diplomatic progress suggesting a resolution to the two-month conflict involving the United States, Israel, and Iran.
Brent crude futures have pulled back from recent peaks, climbing just 0.2% to $78.03 a barrel earlier in the week after the United States lifted sanctions on Iran.
This shift signals a recalibration of risk premiums in energy markets, reducing the immediate threat of supply disruptions that had previously driven prices higher.
For Indian markets, the lower energy input costs are particularly significant as the country prepares for its quarterly earnings season.