On Friday, a significant drop in oil prices caused a ripple effect in the stock market, with companies linked to crude oil benefiting the most. Firms in the oil marketing sector, tire production, and airlines enjoyed an uptick, as the affordable oil alleviated some financial anxieties. Conversely, upstream oil producers took a hit.

Fresh concerns over the Middle East ceasefire and potential US interest rate hikes have sent shockwaves through global markets, causing oil prices to surge and stocks to tumble.

Indian oil marketing stocks surged as crude oil prices dropped to a two-month low amid reports of a potential US-Iran peace deal. HPCL, IOCL, and BPCL shares gained significantly…