Mumbai: Indian equity markets staged a powerful rally on Friday, with benchmark indices Sensex and Nifty posting their biggest gains in recent weeks, buoyed by growing optimism over a possible peace agreement between the United States and Iran.
The BSE Sensex surged 1,695.40 points, or 2.30 per cent, to close at 75,527.95, compared to its previous close of 73,832.55. The 30-share index opened at 74,709.27 and climbed steadily throughout the session, touching an intra-day high of 75,608.02 before ending near the day’s peak.
The NSE Nifty also recorded robust gains, rising 461.30 points, or 1.99 per cent, to settle at 23,622.90. The benchmark index opened at 23,412.55 and hit an intra-day high of 23,645.35 during trading.
Market experts attributed the sharp rally to improving global sentiment after US President Donald Trump announced that Washington had reached a “great settlement” with Iran and that only the finalisation of documents remained.
The development sparked optimism among investors worldwide, who believe easing geopolitical tensions in the Middle East could stabilise energy supplies, reduce market uncertainty and support global economic growth.
Technical analysts noted that the Nifty’s breakout above key resistance levels has strengthened the market outlook.
“A sustained move above 23,800 could further improve sentiment and open the path toward the psychologically significant 24,000 mark,” market analysts said.
They added that the 23,550–23,500 zone is now expected to serve as a crucial support area after the recent breakout.
Among the top performers on the Nifty were Shriram Finance, Bajaj Finance and Larsen & Toubro, which led the gains amid strong buying interest.
The broader market also participated in the rally, reflecting widespread investor confidence. The Nifty MidCap index gained 2.43 per cent, while the Nifty SmallCap index advanced 2.8 per cent.
Sector-wise, real estate and financial stocks emerged as the biggest winners. The Nifty Realty and Nifty Financial Services indices jumped more than 3 per cent each, outperforming other sectoral indices.
However, the information technology sector underperformed the broader market. The Nifty IT index ended as the weakest-performing sector despite the overall bullish sentiment.
Market participants will now closely monitor developments surrounding the proposed US-Iran agreement, along with global economic cues and domestic corporate earnings, for further direction in the coming sessions.
