Sensex Jumps 736 Points as U.S.-Iran Peace Deal Lifts Market Sentiment
Mumbai — Indian equity benchmark indices ended sharply higher Monday as investor sentiment improved after the United States and Iran announced a peace agreement, easing geopolitical concerns and lifting risk appetite across global markets.
The Sensex rallied 736.38 points, or 0.97 percent, to close at 76,264.33, while the Nifty gained 231 points, or 0.98 percent, to settle at 23,853.90.
Market experts said the 24,000 mark remains an important immediate resistance level for the Nifty.
“On the downside, the 23,800 zone remains an immediate support area. Holding above this range will be crucial to maintain the current positive structure,” an analyst said.
Among Nifty stocks, Trent, Shriram Finance and HDFC Life Insurance were the top gainers, drawing strong investor interest during the session.
The rally extended to broader markets. The Nifty MidCap index advanced 1.29 percent, while the Nifty SmallCap index rose 1.11 percent.
Real estate stocks led sectoral gains, with the Nifty Realty index surging more than 4 percent during the day. The Nifty Consumer Durables and Nifty Auto indices also outperformed the broader market as investors increased exposure to domestic consumption-driven sectors.
Pharmaceutical stocks lagged the broader rally, with the Nifty Pharma index emerging as the weakest-performing sectoral index during the session.
Market participants welcomed reports that the United States and Iran had agreed to a peace deal aimed at ending the four-month conflict in West Asia.
According to reports, both countries announced an immediate halt to military operations on all fronts, raising hopes for improved stability in the region and reducing concerns over disruptions to global energy supplies.
The easing of geopolitical tensions triggered broad-based buying across sectors, with frontline and broader market indices ending firmly in positive territory.
Analysts said the peace agreement between Washington and Tehran helped ease concerns surrounding the West Asia conflict, encouraging investors to move toward risk assets.
The development also raised expectations of greater stability in crude oil prices, which is generally viewed as positive for the Indian economy and corporate earnings. (Source: IANS)
