March 20 (Reuters) – Indian shares opened higher on Friday after logging their steepest fall in nearly two years in the previous session as oil prices eased, offering some relief to global markets amid the ongoing war in the Middle East.
The Nifty 50 rose 1.1% to 23,457.05, while the BSE Sensex gained 1.14% to 75,085.78, as of 9:18 a.m. IST.
The rupee depreciated to a record low against the U.S. dollar.
All 16 major sectors logged gains. The broader small-caps and mid-caps rose 0.8% each.
Both the benchmarks fell 3.3% in the previous session, their worst day since June 2024, with heavyweight HDFC Bank leading losses after the abrupt exit of its part-time chairman.
Brent crude moderated to $107 per barrel, after rising to $119.13 a barrel in the previous session on attacks on energy infrastructure in the Middle East.
The drop comes after leading European nations and Japan offered to join efforts to secure the safe passage for ships through the Strait of Hormuz and the U.S. outlined moves to boost oil supply.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Mrigank Dhaniwala)