Indian stock markets rallied on Friday. The Sensex gained 879.09 points and the Nifty crossed 22,520.45, with all sectoral indices ending in the green.

Crude oil prices eased after US President Donald Trump said Washington would not attack Iran before the November midterms. Brent traded near $103 a barrel and WTI around $90.

The fall in crude lifted market mood. Oil importers like India benefit when prices drop.

Earlier in the week, markets were under pressure. Rising bond yields, a weak rupee and foreign fund outflows weighed on benchmarks. The India VIX, a gauge of market fear, rose sharply.

IT stocks were in focus after TCS beat estimates with its second-quarter results. Net profit at the country’s largest software exporter rose 15 per cent to Rs 13,884 crore.

The rally was broad. Banking, IT and energy stocks all moved higher as investors bought into the dip from earlier in the week.

Global cues also helped. Asian markets steadied after the US president’s comments eased fears of a sudden escalation in the Gulf. Analysts said the market would now watch corporate earnings and crude price moves.