Stock Market This Week: Sensex, Nifty Extend Gains For Second Straight Week

Indian equity markets recorded a second consecutive week of strong gains as investors responded positively to signs of easing geopolitical tensions and softer crude oil prices.

Optimism surrounding a potential peace agreement between the United States and Iran improved global market sentiment and supported domestic equities.

The Nifty gained 1.65 per cent during the week, while the Sensex advanced 1.69 per cent.

Both benchmark indices ended the final trading session of the week lower, with the Sensex falling 607 points to close at 76,802 and the Nifty settling at 24,013 as investors booked profits following recent gains.

Market sentiment received support from declining crude oil prices, with Brent crude slipping below the $80-per-barrel mark amid hopes of a diplomatic breakthrough between the US and Iran.

Although prices later stabilised after peace talks reportedly stalled, lower energy costs continued to improve the outlook for import-dependent economies such as India.

The Indian rupee also strengthened during the week, gaining nearly 79 paise against the US dollar.

Analysts believe improved geopolitical conditions and easing commodity prices could continue to support market sentiment in the near term.

A key development during the week was the signing of a 14-point US-Iran agreement, including steps to reopen the Strait of Hormuz and restore commercial shipping.

Consumer durables, real estate, pharma and defence stocks led the gains, with defence rising over 6 per cent. The Nifty IT index slipped 6.5 per cent after weak guidance from Accenture.

Broader markets outpaced benchmark indices, with the Nifty Midcap100 and Smallcap100 gaining 2.62 per cent and 3.23 per cent, respectively.

Investors will now focus on monsoon progress and key economic data from India and the US for further market cues.

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