Stock Market Today: Sensex Soars 1,695 Points, Nifty Ends Above 23,600

Sensex and Nifty witnessed a powerful rally on Friday as optimism surrounding a potential peace agreement between the United States and Iran lifted investor sentiment.

The benchmark Sensex soared 1,695.40 points, or 2.30 per cent, to close at 75,527.95, compared to its previous close of 73,832.55.

The index opened at 74,709.27 and climbed to an intra-day high of 75,608.02 before ending near the session’s peak.

The Nifty also recorded strong gains.

The benchmark index advanced 461.30 points, or 1.99 per cent, to settle at 23,622.90. It opened at 23,412.55 and touched an intra-day high of 23,645.35 during the trading session.

Market participants turned optimistic after US President Donald Trump stated that Washington had reached a ‘great settlement’ with Iran and only the formal completion of the agreement remained pending.

The remarks strengthened hopes of easing geopolitical tensions and improved expectations regarding global energy supply stability.

Technical analysts said a sustained move above the 23,800 level could further strengthen market sentiment and open the path towards the key 24,000 psychological mark.

“On the downside, the 23,550–23,500 region is now expected to act as an important immediate support area, having transitioned from resistance to support following the breakout,” an analyst stated.

Among Nifty constituents, Shriram Finance, Bajaj Finance and Larsen & Toubro emerged as the session’s top performers.

The broader market also participated strongly in the rally.

The Nifty MidCap index gained 2.43 per cent, while the Nifty SmallCap index advanced 2.8 per cent.

Sector-wise, real estate and financial stocks led the upward momentum.

The Nifty Realty and Nifty Financial Services indices surged more than 3 per cent each and outperformed other sectoral benchmarks.

In contrast, the Nifty IT index underperformed and finished as the weakest sector during the session.