Indian equity markets closed on a positive note on Friday, with benchmark indices Sensex and Nifty posting solid gains amid cautious optimism ahead of the second round of US-Iran talks scheduled over the weekend.
The Nifty climbed 0.65 per cent, or 156.80 points, to settle at 24,353.55, while the Sensex advanced 504.86 points, or 0.65 per cent, to close at 78,493.54.
Market experts indicated that the 50-day moving average around 24,410 marks the immediate resistance for the Nifty.
A decisive breakout above this level could open the path for an upward move towards 24,700.
“The overall structure remains positive, favouring a buy-on-dips approach, with the support base now shifting higher to around 24,000,” an analyst stated.
Broader markets outperformed the frontline indices, reflecting improved investor sentiment. The Nifty MidCap index rose 1.27 per cent, while the Nifty SmallCap index surged 1.48 per cent by the end of the session.
FMCG, oil and gas, and media stocks led the rally, with the Nifty FMCG, Nifty Oil and Gas, and Nifty Media indices emerging as top performers. Among individual stocks, Hindustan Unilever, Nestle India, JSW Steel and Power Grid Corporation of India were among the key gainers supporting market momentum.
On the downside, the Nifty IT index ended as the weakest performer during the session.
Easing geopolitical concerns, following US President Donald Trump’s remarks that the conflict involving Iran should end soon, supported investor sentiment. He also announced that Lebanon and Israel had agreed to a 10-day ceasefire, seen as a positive step toward de-escalation.
Reports indicated that Israel halting its attack on Lebanon was one of the key conditions set by Iran to move toward ending hostilities.
Focus Shifts to US-Iran Talks
Market participants are now closely monitoring the upcoming US-Iran discussions, which will likely provide further direction to both global and domestic markets.
“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 mentioned.
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