Mumbai — Indian equity markets closed higher Tuesday, extending their gains as investors welcomed the announcement of a U.S.-Iran deal that eased geopolitical concerns and improved risk appetite.
The benchmark Sensex rose 544.15 points, or 0.71 percent, to close at 76,808.48. The Nifty gained 135.25 points, or 0.57 percent, to settle at 23,995, just below the key 24,000 mark.
Market analysts said the 24,000 level remains the immediate resistance zone for the Nifty.
“A sustained move above 24,000, could strengthen bullish momentum and open the door for a further advance towards the 24,200–24,400 region,” a market expert said.
“On the downside, the 23,900 is expected to act as an immediate support,” the analyst added.
The market’s positive momentum was supported by strong buying in select heavyweight stocks. HCLTech, Tata Consumer Products and Bajaj Finserv were among the top gainers on the Nifty.
Among Sensex stocks, IndiGo, UltraTech Cement, Maruti Suzuki India, Tata Steel, State Bank of India and Sun Pharma were among the top losers.
Broader markets also ended in positive territory. The Nifty MidCap index advanced 0.41 percent, while the Nifty SmallCap index gained 0.42 percent.
Real estate, media and consumer durables stocks led sectoral gains. The Nifty Realty, Nifty Media and Nifty Consumer Durables indices outperformed the broader market.
Metal stocks remained under pressure, with the Nifty Metal index emerging as the biggest sectoral loser of the session.
Investors remained encouraged by easing geopolitical tensions following the U.S.-Iran deal announcement, which helped lift global market sentiment and supported risk assets.
The positive backdrop, along with selective sectoral buying, helped Indian benchmarks maintain momentum near record levels.
The Indian rupee also continued to show strength amid a favorable macroeconomic backdrop.
“In the near term, USDINR is expected to maintain a downward bias, with spot levels likely to gravitate towards 94.10,” an analyst said. (Source: IANS)
