MUMBAI — Indian equity markets ended higher Friday, with benchmark indices Sensex and Nifty posting gains as investors remained cautiously optimistic ahead of a second round of U.S.-Iran talks over the weekend.
The Nifty rose 156.80 points, or 0.65 percent, to close at 24,353.55, while the Sensex gained 504.86 points, also up 0.65 percent, to settle at 78,493.54.
Analysts said the Nifty is nearing a key resistance level around its 50-day moving average at approximately 24,410. A sustained breakout above that level could open the path toward 24,700.
“The overall structure remains positive, favoring a buy-on-dips approach, with the support base now shifting higher to around 24,000,” an analyst said.
Among the top gainers were Hindustan Unilever, Nestlé India, JSW Steel, and Power Grid Corporation of India, with FMCG stocks leading the market’s upward momentum.
Broader markets outperformed the main indices, signaling improving investor sentiment. The Nifty MidCap index rose 1.27 percent, while the Nifty SmallCap index climbed 1.48 percent.
Sectorally, FMCG, oil and gas, and media stocks led gains, while the IT sector lagged and ended as the worst performer.
Market sentiment was supported by easing geopolitical concerns after U.S. President Donald Trump indicated that the conflict involving Iran could wind down soon.
Trump also said Israel and Lebanon had agreed to a 10-day ceasefire, a development viewed as a step toward de-escalation. Reports suggested that halting Israeli strikes on Lebanon was among Iran’s key conditions for moving toward ending hostilities.
Investors are now closely watching the upcoming U.S.-Iran discussions, which are expected to provide further direction for global and domestic markets.
“The market appears to be transitioning into a more stable phase after recent volatility, supported by easing geopolitical risks, cooling volatility, and sectoral rotation into defensives,” a market expert said. (Source: IANS)
