MUMBAI, India — Indian equity markets surged on Wednesday as easing geopolitical tensions between the United States and Iran lifted investor sentiment and boosted risk appetite.
Benchmark indices closed sharply higher, with the Nifty rising 1.63% or 388.65 points to settle at 24,231.30. The Sensex climbed 1.64%, gaining 1,264 points to end the session at 78,111.24.
The rally followed comments from U.S. President Donald Trump indicating that the conflict with Iran could be nearing an end, improving global market sentiment.
Analysts said that from a technical standpoint, the 24,300–24,400 range remains a key resistance zone for the Nifty, and a decisive breakout above this level would be needed to extend gains toward 24,800–25,000.
“On the downside, immediate support is placed near 24,000 mark, followed by a stronger base around 23,900–23,800, which is expected to act as a key demand zone,” an analyst said.
Gains were broad-based, led by heavyweight stocks. Top performers on the Nifty included InterGlobe Aviation, Max Healthcare Institute, Power Grid Corporation of India, and Eternal.
Broader markets outperformed the main indices, reflecting strong participation from mid- and small-cap stocks. The Nifty MidCap index rose 2.20%, while the Nifty SmallCap index advanced 2.35%.
Sector-wise, construction-related stocks led the rally, with the Nifty Construction Durable index emerging as the top performer. IT and media stocks also saw strong buying interest, signaling improved confidence in growth-oriented sectors.
However, not all sectors participated equally. The Nifty PSU Bank index lagged, indicating relative weakness in state-owned banking stocks.
Among thematic indices, capital markets, tourism, and railway PSU stocks outperformed, while rural-focused and CPSE indices trailed the broader market.
Analysts attributed the rally to improving global cues and easing geopolitical concerns, which helped restore investor confidence and trigger buying across sectors.
The Indian rupee traded slightly stronger near 93.36 against the U.S. dollar, supported by improved sentiment following the second round of U.S.-Iran talks, which contributed to a cooling in crude oil prices over the past two sessions.
“Lower crude, now slipping toward the $94–95 range, is easing pressure on India’s import bill and providing short-term relief to the currency,” an analyst said. (Source: IANS)
