Mumbai, June 15:
Indian equity benchmark indices ended sharply higher on Monday, driven by improved investor sentiment after the United States and Iran announced a peace agreement, easing geopolitical concerns and boosting risk appetite across global markets.
The BSE Sensex rallied 736.38 points, or 0.97 per cent, to close at 76,264.33, while the NSE Nifty advanced 231 points, or 0.98 per cent, to settle at 23,853.90.
Market experts said the announcement of a peace deal between Washington and Tehran helped calm fears surrounding the prolonged conflict in West Asia, encouraging investors to increase exposure to risk assets.
Technically, analysts noted that the 24,000 mark remains a crucial immediate resistance level for the Nifty. On the downside, the 23,800 zone is seen as a key support area. Maintaining levels above this range will be important for sustaining the market’s positive momentum.
Among the top gainers in the Nifty pack were Trent, Shriram Finance and HDFC Life Insurance, which witnessed strong buying interest throughout the trading session.
The rally extended to broader markets as well. The Nifty MidCap index rose 1.29 per cent, while the Nifty SmallCap index gained 1.11 per cent, reflecting widespread participation from investors.
Sector-wise, real estate stocks emerged as the biggest winners, with the Nifty Realty index surging more than 4 per cent. The Nifty Consumer Durables and Nifty Auto indices also outperformed the broader market, supported by optimism around domestic consumption-driven sectors.
In contrast, pharmaceutical stocks underperformed, with the Nifty Pharma index ending as the weakest-performing sectoral index of the day.
Investor confidence received a significant boost after reports indicated that the United States and Iran had agreed to an immediate cessation of military operations, aimed at ending the four-month-long conflict in the region.
The development has raised hopes of greater geopolitical stability and reduced concerns over disruptions to global energy supplies. Analysts believe that stable crude oil prices could provide further support to the Indian economy by easing inflationary pressures and improving corporate profitability.
With geopolitical risks receding and investor sentiment strengthening, market participants will now closely monitor global developments and technical levels as the Nifty approaches the psychologically important 24,000 mark.
