Sensex, Nifty Rise Ahead of U.S.-Iran Talks as FMCG Stocks Lead Gains
MUMBAI — Indian equity markets closed higher Friday, with benchmark indices Sensex and Nifty posting solid gains as investors remained cautiously optimistic ahead of a second round of U.S.-Iran talks scheduled over the weekend.
The Nifty climbed 156.80 points, or 0.65 percent, to settle at 24,353.55, while the Sensex rose 504.86 points, also up 0.65 percent, to end at 78,493.54.
Market participants pointed to improving sentiment driven by easing geopolitical concerns and expectations that upcoming diplomatic discussions could provide clearer direction for global markets.
Analysts said the Nifty is approaching a key technical resistance level near its 50-day moving average, around 24,410. A sustained move above that mark could open the door for further gains 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,” one analyst said.
Among the top performers on the Nifty were Hindustan Unilever, Nestlé India, JSW Steel, and Power Grid Corporation of India, with FMCG stocks leading the rally.
Broader markets outpaced the benchmark indices, reflecting improved investor confidence. The Nifty MidCap index rose 1.27 percent, while the Nifty SmallCap index advanced 1.48 percent.
Sectorally, FMCG, oil and gas, and media stocks were the biggest gainers, while the IT sector lagged and ended as the worst-performing segment.
Investor sentiment was also supported by signs of easing geopolitical tensions after U.S. President Donald Trump reiterated that the conflict involving Iran should come to an end soon.
Trump also said Israel and Lebanon had agreed to a 10-day ceasefire, a development viewed by markets as a step toward de-escalation. Reports indicated that halting Israeli attacks on Lebanon was among Iran’s key conditions for moving toward ending hostilities.
Experts said investors are now closely watching the upcoming U.S.-Iran discussions, which could influence both global and domestic market trends.
“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)
