MUMBAI, India — India’s benchmark stock indices rebounded Tuesday, snapping a two-day losing streak after U.S. President Donald Trump signaled that the ongoing conflict with Iran could end soon, easing global market concerns and lifting investor sentiment.
The Nifty 50 rose 0.97 percent, gaining 233.5 points to close at 24,261.6, while the BSE Sensex advanced 639.82 points, or 0.82 percent, to settle at 78,205.98.
Market participants responded positively to Trump’s comments suggesting that the conflict may be resolved in the near future, which helped calm volatility that had recently spread across global markets due to rising energy prices and geopolitical tensions.
According to analysts, the Nifty now faces immediate resistance near the 24,300 level. A sustained breakout above that point could push the index toward 24,600, which is seen as the next key short-term resistance.
“On the downside, the 24,000 level continues to act as an important support zone for the index,” an analyst said.
Broader markets outperformed the headline indices during the trading session. The Nifty Midcap 100 climbed 1.62 percent, while the Nifty Smallcap 100 gained 2.12 percent.
Among sectoral indices, the Nifty Auto index emerged as the top performer. The Nifty Consumer Durables and Nifty Financial Services Ex-Bank indices also posted solid gains during the session.
However, the rally was not uniform across sectors. The Nifty IT index was the worst performer of the day, while the Nifty Oil & Gas index also lagged behind the broader market.
The rebound in equities followed signs of possible de-escalation in the Middle East conflict, which had triggered significant volatility in recent days.
“The rebound came after signs of potential de-escalation in the Middle East conflict, as President Donald Trump hinted at a possible early end to the Iran war,” an analyst said.
The easing geopolitical concerns also contributed to a pullback in global crude oil prices, helping stabilize risk sentiment among investors.
Market experts said investors will continue to watch developments related to the Iran conflict, along with global economic indicators, for clues about the market’s next direction. (Source: IANS)
