New Delhi, March 13 -- Reliance Industries share price traded higher on Friday even as the broader Indian stock market remained under heavy pressure amid escalating US-Iran war in the Middle East. Reliance Industries shares gained as much as 0.62% to Rs.1,400.50 apiece on the BSE.

The gains in Reliance share price today came despite a sharp selloff in equities, as the benchmark BSE Sensex crashed over 900 points and the Nifty 50 declined 1%. The weakness in the global stock markets has largely been driven by concerns over the ongoing US-Iran war, which has pushed crude oil prices sharply higher and heightened fears of supply disruptions.

The effective blockade of the Strait of Hormuz - a critical global energy corridor that accounts for...