The Indian equity benchmark indices opened higher on Thursday following optimism in the global markets after the US and Iran hinted that they are avoiding further conflict.

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The US President Donald Trump responded overnight to an Iranian attack on US forces with sanctions, not violence.

The Sensex opened 404.47 points or 0.99 percent higher at 41,222.21 while the Nifty50 index opened at 12,153.15, up 127.80 points or 1.06 percent. Broader markets surged over 1 percent, with Nifty Midcap100 index up 1.27 percent and Nifty Smallcap100 index up 1.51 percent.

Nifty PSU Bank index climbed the most, up 2 percent, followed by Nifty Media, Nifty Metal and Nifty Auto.

JSW Steel, Bharti Infratel, Indian Oil Corporation, Bharti Airtel and SBI were the Nifty top gainers while TCS, HCL Technologies and Wipro were the only losers in the index.

The shares of Bharti Airtel surged 3.48 percent intraday after the telecom service provider launched its qualified institutional placement (QIP) worth $2 billion at an indicative price of Rs 435 per share. The company also approved the issue of foreign currency convertible bonds of an aggregate amount of up to $1 billion under applicable laws.

Sadbhav Infrastructure’s shares rallied over 7 percent intraday after the company said that the board of IndInfravit Trust has approved the preferential allotment of up to 18.88 crore units at Rs 116.75 per unit aggregating to Rs 2,204.82 crore.

On the commodities front, oil prices rose today recouping some of the heavy losses from the previous session as the market rebalanced after Washington and Tehran looked to defuse a potential Middle East crisis.

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First Published:Jan 9, 2020 9:36 AM IST