Sensex Jumps 544 Points as U.S.-Iran Deal Lifts Market Sentiment
Mumbai — Indian equity markets closed higher Tuesday, extending their gains as investors welcomed the announcement of a U.S.-Iran deal that improved risk appetite and lifted sentiment across global and domestic markets.
The 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 gains were supported by buying in select heavyweight stocks. HCLTech, Tata Consumer Products and Bajaj Finserv were among the top gainers on the Nifty, helping lift the broader market.
Among Sensex stocks, IndiGo, UltraTech Cement, Maruti Suzuki India, Tata Steel, State Bank of India and Sun Pharma were among the top losers.
The rally also extended to the broader market. The Nifty MidCap index rose 0.41 percent, while the Nifty SmallCap index advanced 0.42 percent.
Among sectors, real estate, media and consumer durables led the 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 ending as the biggest sectoral loser of the day.
Market sentiment was supported by easing geopolitical tensions after the U.S.-Iran deal announcement, which helped improve global sentiment and boosted demand for risk assets.
The favorable backdrop, along with selective sectoral buying, helped Indian benchmarks maintain their upward momentum near record levels.
The Indian rupee also remained firm amid a supportive 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)
