Sensex, Nifty Extend Gains for Third Session on Hopes of U.S.-Iran De-escalation
MUMBAI — Indian equity markets closed higher for a third straight session on Monday, buoyed by optimism that tensions between the U.S. and Iran may ease, lifting investor sentiment across sectors.
The benchmark Nifty rose 255 points, or 1.12 percent, to settle at 22,968.25, while the Sensex gained 787 points, or 1.07 percent, to close at 74,106.85.
Market participants pointed to improving geopolitical signals after reports suggested both countries have received a proposal aimed at ending hostilities.
The proposed framework reportedly includes a two-stage deal, with a final ceasefire agreement potentially emerging within 15 to 120 days. It is also said to involve provisions related to nuclear restrictions and sanctions relief, with an “Islamabad Accord” under discussion.
Analysts said the easing of tensions could help stabilize global markets by reducing uncertainty, particularly around energy prices and capital flows.
From a technical perspective, experts noted that the Nifty is nearing a key resistance level around 23,000.
“A sustained move above this level may open the path for further upside towards 23,200,” an analyst said.
“On the downside, immediate support is now placed in the 22,800–22,750 zone, which earlier acted as resistance and has now turned into a support area, followed by a stronger base around the 22,550 level that served as a demand zone during the session,” a market expert added.
Among individual stocks, Trent, SBI Life Insurance Company, and Titan Company were among the top gainers, reflecting broad-based buying interest.
Broader markets also advanced, with the Nifty MidCap index rising 1.52 percent and the Nifty SmallCap index gaining 1.29 percent.
Sector-wise, construction and banking stocks led the rally. The Nifty Construction Durable index outperformed, while the Nifty PSU Bank and Nifty Bank indices also posted notable gains.
However, the Nifty Oil and Gas index lagged the broader market, weighed down by volatility in crude oil prices amid ongoing geopolitical uncertainty.
Analysts said market momentum remains positive as investors continue to track global developments and potential diplomatic progress, which could shape the near-term direction of equities. (Source: IANS)
