US stocks and oil prices headed for a relatively quiet end to the week on Friday after earlier volatility triggered by fears that the conflict with Iran could disrupt global crude oil supplies. The positive tone in US equities mirrored the gains seen earlier in the day in Asian and European markets, where benchmark indices rose from modest to strong levels as easing geopolitical tensions improved investor sentiment compared with the beginning of the week.
The S&P 500 rose 0.2% and was on track to close out a fourth winning week in the last five. The Dow Jones Industrial Average was up 143 points, or 0.3%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.1% higher, said an evening market report by Associated Press on Friday..
Oil prices eased following earlier fluctuations as a series of unclaimed airstrikes hit Iran after the US said it finished its attacks. The price for a barrel of Brent crude oil, the international standard, slipped 0.5% to $75.92.
That’s above its $72 price from the start of the week, but it’s still well below its wartime peak of nearly $120. The worry is that continued fighting could block oil tankers from the Strait of Hormuz and prevent the delivery of crude from the Persian Gulf to customers worldwide.
President Donald Trump said on his social-media platform that he agreed to continue talks with Iran but also that the United States told it “in no uncertain terms, that the Cease Fire is OVER!”
With the wait ongoing for what will happen next with the strait, the focus on Wall Street is swinging toward the upcoming reporting season for companies’ profits during the spring, AP reported at 9 PM on Friday.
India’s equity market surged sharply today with benchmark indices - BSE Sensex and NSE Nifty50 - gaining over 1% each on the back of improved investor sentiment, which was aided by easing geopolitical tensions and a continued decline in crude oil prices. At close, the Nifty 50 gained 1.02% to settle at 24,206, while the Sensex advanced 1.08% to close at 77,569.
As per the latest development, missile exchanges in the West Asia region have come to a halt amid reports that efforts are being made to get diplomacy between Iran and the US back on track after the exchange of heavy fire earlier this week. The global equity market took a beating on Wednesday after US President Donald Trump said that the interim agreement with Iran is over.
“Globally, easing oil prices and a recovery in the technology sector have further improved sentiment toward India, supporting a rebound in FII inflows. Importantly, the hawkish tone of the FOMC meeting has not weighed on global markets, as recent data suggests inflationary pressures are likely to moderate,” said Vinod Nair, Head of Research, Geojit Investments Limited. Brent crude oil prices were trading at a minor cut at $76 a barrel on Friday.
He added that Positive business updates from banks, along with a constructive outlook for the IT sector driven by in-line estimates, a potential rebound in global spending, and AI-related opportunities, have set the stage for an optimistic start to the Q1 earnings season.
Shares of Tata Consultancy Services rose about 4% intraday on Friday after the company reported a 5% increase in consolidated net profit to Rs 13,349 crore for Q1FY27. The stock settled 1% higher at Rs 2,068 apiece. Other IT stocks such as Infosys and Wipro also advanced on Friday.
The broader market outperformed the benchmark indices on Friday and continued its strong momentum. The Nifty Midcap 100 index gained 1.40% to close at a record high, while the Nifty Smallcap 100 index advanced 1.49%. Among individual stocks, Kalyan Jewellers extended its strong rally for a third consecutive session on Friday, climbing more than 8% to emerge as the top gainer on the BSE Midcap index. Shares of Anand Rathi Wealth hit a fresh record high on Friday after the company's assets under management (AUM) crossed Rs 1 lakh crore at the end of the June quarter.
Vinit Bolinjkar- Head of Research- Ventura said that markets remain sensitive to developments in India–U.S. trade negotiations and geopolitical risks. He added that while the near-term trend appears constructive, we expect continued volatility with Nifty finding support around 23,700–23,800 and resistance near 24,200–24,300.
Meanwhile, Foreign Institutional Investors (FIIs) have turned net buyers in the first week of July 2026, recording cumulative inflows of over Rz 3,421 crore in the cash market, reversing the cautious stance seen in late June. This shift reflects improving sentiment amid stabilising global cues, expectations of a constructive Q1 earnings season, and selective buying in financials and autos, said Bolinjkar.
Other Asian equity markets also closed mostly higher on Friday as renewed optimism over the technology and semiconductor sectors outweighed lingering geopolitical concerns. Investors remained focused on the long-term growth prospects of artificial intelligence (AI)-related businesses, prompting broad-based buying across key regional markets, Reuters reported on Friday.
South Korea led the gains, with the Kospi rallying on strong advances in semiconductor and technology stocks amid continued enthusiasm for AI-driven demand. Japan's Nikkei 225 also ended higher as exporters and chip-related companies attracted buying interest. Hong Kong's Hang Seng extended its gains, supported by strength in technology shares, while mainland China's Shanghai Composite finished marginally higher as investors selectively accumulated manufacturing and AI-linked stocks.
Australian equities also ended in positive territory, with gains in mining, banking and technology stocks offsetting weakness in a few defensive sectors. Across the region, investors largely looked beyond geopolitical tensions in the Middle East, choosing instead to focus on improving corporate earnings prospects and the resilience of technology-driven growth.
Despite continued caution over global trade and energy market uncertainties, the overall mood remained constructive. The week's final session reflected improving risk appetite, with technology and semiconductor stocks once again emerging as the key drivers of gains across most Asian markets, the Reuters report said.
(Arshad Khan in New Delhi contributed to the story)
