Indian Markets Set to Open Stronger on Friday; Lebanon Ceasefire Extension Lifts Spirits 

Mumbai, April 24: Indian equity markets likely to open on stronger footing on Friday, with Gift Nifty signalling a gap-up open as a rare piece of positive news from the Middle East — the extension of the Lebanon-Israel ceasefire by three weeks — provided a much-needed boost to battered investor sentiment. 

In other news, Iranian forces reportedly seized control of the Strait of Hormuz amid rising tensions in the broader Middle East on Thursday, but US President Donald Trump later ordered the US Navy to “shoot and kill” Iranian boats deploying mines in the shipping lane. However, Indian markets are looking up on Friday morning as investors focus on the diplomatic positives rather than the military escalation.

Gift Nifty futures for April 28 expiry traded at 24,207 on Friday morning, up 82.50 points or 0.34% by 8: 25 am on April 24 — suggesting a gap-up open of around 50-80 points for Nifty 50 at the opening bell on Dalal Street. Bulls are likely to welcome any glimmer of positivity on Friday morning as they look for a reason to re-enter the market after brutal back-to-back declines. The Gift Nifty indicator is forecasting bullish traders returning to the market.

Middle East Conflict

Tensions flared between the US and Iran overnight as Iran gained control of the Strait of Hormuz amid rising geopolitical tensions in the Middle East, with US President Donald Trump ordering the Navy to shoot and kill Iranian vessels laying mines inside the waterway shortly thereafter — although a White House meeting between Israeli and Lebanon officials Thursday night saw Trump agree to extend the Lebanon-Israel ceasefire by three weeks after intense negotiations. Ambassador Gilad Erdan of Israel met with Ambassador Mohamad Freihat Hariri of Lebanon at the White House on Thursday evening for a second round of US-mediated negotiations after three weeks of continued conflict along the Lebanese-Israeli border, tweeting “a very good meeting as we agreed to extend the ceasefire for three weeks” after the meeting concluded.

Oil Prices

Oil prices continued their surge Friday morning, continuing what has been a stunning rally from crude markets this week. Brent crude futures were last up $1.23 or 1.17% to $106.30 per barrel, and WTI was up $1.07 or 1.12%, last trading at $96.92 per barrel — both benchmarks rising further after settling over 3% higher each on Thursday night following reports Iranian air defence fired on “hostile targets” over the nation’s capital Tehran. Crude prices are likely to continue driving markets Friday as Brent prices remain above $100 and approach $107 per barrel, with India’s macroeconomic weakness as a large importer continuing to weigh on upside potential for a sustained market recovery.

Asian Markets Mixed; Japan Stocks Higher

Asian markets traded mixed overnight, while Japan’s Nikkei added 0.45%. US stocks closed mixed on Thursday with the Dow, S&P 500, and Nasdaq all closing in the red after a day of mixed earnings announcements and fading optimism around Iran peace developments — however, Nasdaq futures and S&P 500 futures rose 0.6% and 0.1% respectively overnight, suggesting that Wall Street may have found its footing ahead of Friday’s trading session. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3% and was set for a 0.8% gain on the week.

Thursday Closing

Indian markets closed sharply lower on Thursday with the BSE Sensex closing below the 78,000 mark after dropping over 850 points to end Thursday’s session at 77,664, while the Nifty 50 declined over 200 points to end Thursday below the 24,200 level — coming off an intraday low of 24,135 on heavy volume — to extend sharp losses from Wednesday’s 750-point drop for the second-biggest two-day decline in Indian markets in recent weeks. Oil prices trading above $100 per barrel continued to weigh on sentiment as fuel importers eyed further pressure on India’s macroeconomic recovery amid high crude prices, while weakness was spread across financial stocks, automobiles, and consumer durables sectors — making India’s positive Friday open signal from Gift Nifty all the more important as bulls look to stabilise.

Sources:

• nseindia.com
• https://www.reuters.com/world/asia-pacific/global-markets-global-markets-2026-04-24/
• https://apnews.com/article/us-iran-war-hormuz-israel-pakistan-ceasefire-april-23-2026-368b922ae2f4c874df8a133491eeffe8