Indian shares post best day in two months on Mideast peace hopes

Indian shares extended a global rally on Friday, recording their best session in two months as hopes of a US-Iran peace deal eased oil prices. The market move came as crude slid on expectations that the Strait of Hormuz could reopen, with Donald Trump saying a pact could be signed as soon as this weekend while Tehran said it had not finalized a decision. India’s Nifty 50 rose 1.99% to 23,622.90 points, and the BSE Sensex gained 2.3% to 75,527.95. Global equities also climbed, helped by Brent falling 4% to about $87 a barrel. Lower crude supported sectors including oil marketing, airlines, tyres, paint and cement, while analysts said it could also reduce foreign equity outflows of about $30 billion. Financials led gains after the central bank eased overseas borrowing rules, though IT fell 4.2% amid AI disruption worries and US inflation data.