Stock markets surge tracking global rally, drop in oil prices as US ends war with Iran

MUMBAI: (Jun 12) Benchmark indices Sensex and Nifty rebounded in early trade on Friday and were trading sharply higher, following a rally in global markets and a drop in crude oil prices after US President Donald Trump declared that his country has ended the war with Iran.

The 30-share BSE Sensex jumped 921.30 points to 74,753.85 during initial deals. The 50-share NSE Nifty surged 254.20 points to 23,417.25.

US President Donald Trump said that a deal to end the war with Iran is nearly complete and is expected to be signed over the weekend in Europe, as he called off military strikes on the gulf nation hours after threatening to take control of its oil industry.