Mumbai — Indian stock markets rallied sharply on Friday, with the Sensex jumping nearly 1,700 points and the Nifty reclaiming the 23,600 level, as investor sentiment improved on hopes of a possible peace agreement between the United States and Iran.
The Sensex closed at 75,527.95, up 1,695.40 points, or 2.30 percent, from its previous close of 73,832.55. The 30-share index opened at 74,709.27 and touched an intraday high of 75,608.02 before ending near the day’s peak.
The Nifty also finished higher at 23,622.90, gaining 461.30 points, or 1.99 percent. The index opened at 23,412.55 and climbed to an intraday high of 23,645.35 during the session.
Market experts said the Nifty’s technical outlook could strengthen further if the index sustains a move above 23,800, which may open the way toward the psychological 24,000 mark.
“On the downside, the 23,550–23,500 region is now expected to act as an important immediate support area, having transitioned from resistance to support following the breakout,” an analyst stated.
The rally came after U.S. President Donald Trump said Washington had reached a “great settlement” with Iran and that only the finalization of the document remained.
The remarks lifted optimism across global markets, with investors betting that easing geopolitical tensions could help stabilize energy supplies and reduce uncertainty.
Among Nifty stocks, Shriram Finance, Bajaj Finance and Larsen & Toubro were the top gainers.
Broader markets also posted strong gains. The Nifty MidCap index ended 2.43 percent higher, while the Nifty SmallCap index advanced 2.8 percent.
Real estate and financial stocks led the sectoral rally. The Nifty Realty and Nifty Financial Services indices rose more than 3 percent each, outperforming other sectoral gauges.
The Nifty IT index lagged the broader market and was the weakest-performing sector during the session. (Source: IANS)
