Indian Markets Extend Gains for Third Straight Day on Ceasefire Hopes
MUMBAI — India’s benchmark stock indices rose for a third consecutive session Tuesday, buoyed by improving investor sentiment amid expectations that the United States and Iran could extend their ceasefire during upcoming negotiations.
The Sensex climbed 753.03 points, or 0.96 percent, to close at 79,273.33, while the Nifty 50 gained 211.75 points, or 0.87 percent, ending the day at 24,576.60.
Markets were supported by buying in select heavyweight stocks and optimism that easing geopolitical tensions in West Asia could stabilize global conditions.
Analysts said the Nifty is now approaching a key resistance level around 24,600, where some selling pressure has emerged. A sustained move above that level could push the index toward 24,850 and potentially the psychological 25,000 mark.
On the downside, the 24,350–24,400 range is seen as an immediate support zone after previously acting as resistance.
Among the top performers on the Nifty were Nestle India, Trent and Hindustan Unilever, which helped drive the day’s gains. Broader markets also advanced, with the Nifty MidCap index rising 0.49 percent and the Nifty SmallCap index up 0.88 percent.
Sector-wise, fast-moving consumer goods and real estate stocks led the rally, while pharmaceutical shares lagged and ended as the weakest segment.
Investor sentiment was influenced by developments in U.S.-Iran relations, with officials from both countries expected to participate in talks aimed at reaching a broader agreement to reduce hostilities.
However, uncertainty remains. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said Tehran would not negotiate under pressure and warned of a strong response if necessary. Meanwhile, U.S. President Donald Trump cautioned that failure to reach an agreement before the ceasefire deadline could lead to renewed military escalation.
Despite the risks, analysts said Indian equities are likely to maintain a gradual upward trend, supported by improving macroeconomic conditions, easing crude oil prices and strong fourth-quarter earnings momentum. (Source: IANS)
